DNB Asset Management AS cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,782,905 shares of the e-commerce giant’s stock after selling 331,822 shares during the quarter. Amazon.com makes up approximately 2.1% of DNB Asset Management AS’s portfolio, making the stock its 7th largest holding. DNB Asset Management AS’s holdings in Amazon.com were worth $362,779,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after purchasing an additional 12,456,995 shares in the last quarter. State Street Corp raised its position in shares of Amazon.com by 1.0% in the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after buying an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after buying an additional 295,880,050 shares in the last quarter. FMR LLC boosted its position in Amazon.com by 1,792.4% during the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Amazon.com by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 165,309,180 shares of the e-commerce giant’s stock valued at $17,031,683,000 after acquiring an additional 3,774,390 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.
Amazon.com Trading Down 1.7 %
NASDAQ AMZN opened at $135.29 on Thursday. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $145.86. The firm has a 50 day moving average of $135.59 and a two-hundred day moving average of $120.17. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.40 trillion, a PE ratio of 106.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.24.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Needham & Company LLC boosted their target price on Amazon.com from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Tigress Financial boosted their price objective on Amazon.com from $192.00 to $204.00 in a research note on Thursday, July 13th. Wolfe Research raised their target price on Amazon.com from $140.00 to $150.00 in a research note on Monday, July 10th. Canaccord Genuity Group boosted their price target on shares of Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Rosenblatt Securities upgraded shares of Amazon.com from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $111.00 to $184.00 in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and forty-seven have given a buy rating to the stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $161.22.
Get Our Latest Report on Amazon.com
Insider Buying and Selling
In related news, SVP David Zapolsky sold 42,816 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $145.13, for a total value of $6,213,886.08. Following the completion of the transaction, the senior vice president now directly owns 64,380 shares of the company’s stock, valued at $9,343,469.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $128.17, for a total value of $64,085.00. Following the completion of the sale, the chief executive officer now directly owns 150,780 shares of the company’s stock, valued at approximately $19,325,472.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 42,816 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $145.13, for a total value of $6,213,886.08. Following the completion of the sale, the senior vice president now directly owns 64,380 shares of the company’s stock, valued at $9,343,469.40. The disclosure for this sale can be found here. Insiders sold a total of 1,408,145 shares of company stock worth $55,154,208 over the last 90 days. 12.70% of the stock is owned by insiders.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.
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