SVB Wealth LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 19.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 452,457 shares of the e-commerce giant’s stock after selling 109,723 shares during the period. Amazon.com accounts for 1.1% of SVB Wealth LLC’s portfolio, making the stock its 13th largest position. SVB Wealth LLC’s holdings in Amazon.com were worth $58,982,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. State Street Corp increased its position in shares of Amazon.com by 1,869.1% during the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Amazon.com by 1,838.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC increased its position in shares of 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 valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Amazon.com by 120,235.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock valued at $9,784,345,000 after purchasing an additional 116,383,502 shares during the period. Finally, Norges Bank bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $8,263,591,000. Institutional investors and hedge funds own 57.96% of the company’s stock.
Amazon.com Stock Up 0.2 %
Shares of Amazon.com stock opened at $128.40 on Friday. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $145.86. The business has a 50-day moving average of $133.68 and a two-hundred day moving average of $124.62. The company has a market capitalization of $1.32 trillion, a P/E ratio of 101.10, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.95 and a quick ratio of 0.70.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Morgan Stanley reiterated an “overweight” rating and issued a $175.00 price target on shares of Amazon.com in a research report on Monday, October 2nd. Loop Capital upped their price target on Amazon.com from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $160.00 price target on shares of Amazon.com in a research report on Wednesday, October 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 price target on shares of Amazon.com in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and forty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.21.
View Our Latest Analysis on AMZN
Insider Buying and Selling
In related news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $133.87, for a total transaction of $414,997.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $16,034,948.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $16,034,948.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $133.55, for a total value of $534,200.00. Following the completion of the transaction, the chief executive officer now owns 560,301 shares of the company’s stock, valued at $74,828,198.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,408,645 shares of company stock worth $55,207,763. 12.30% of the stock is owned by corporate insiders.
Amazon.com Profile
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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