Amazon.com, Inc. (NASDAQ:AMZN) Position reduced by Sumitomo Life Insurance Co.

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Sumitomo Life Insurance Co. reduced its holdings in Amazon.com, Inc. (NASDAQ: AMZN) by 1.5% in the 1st quarter, HoldingsChannel reports. The institutional investor held 7,008 shares of the e-commerce giant after selling 104 shares during the quarter. Amazon.com represents about 0.6% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 10th largest holding. Sumitomo Life Insurance Co.’s holdings on Amazon.com were worth $22,846,000 when it last filed with the SEC.

Other hedge funds have also recently been buying and selling shares of the company. Fifth Third Bancorp increased its stake in Amazon.com by 1.5% in the first quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant valued at $579,225,000 after purchasing an additional 2,686 shares during the period. Graypoint LLC increased its stake in Amazon.com by 57.9% in the first quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant valued at $5,555,000 after purchasing an additional 625 shares during the period. Castle Rock Wealth Management LLC increased its stake in Amazon.com by 10.6% in the first quarter. Castle Rock Wealth Management LLC now owns 1,715 shares of the e-commerce giant valued at $5,422,000 after purchasing an additional 164 shares during the period. Atlas Private Wealth Advisors bought a new position on Amazon.com in the first quarter worth approximately $6,229,000. Finally, Cherrydale Wealth Management LLC increased its stake in Amazon.com by 156.6% in the first quarter. Cherrydale Wealth Management LLC now owns 372 shares of the e-commerce giant valued at $1,212,000 after purchasing an additional 227 shares during the period. Hedge funds and other institutional investors own 72.51% of the company’s shares.

Amazon.com down 1.8%

NASDAQ: AMZN opened at $122.42 on Friday. The stock’s 50-day moving average price is $112.81 and its 200-day moving average price is $136.51. Amazon.com, Inc. has a 52-week low of $101.26 and a 52-week high of $188.11. The company has a market capitalization of $1.25 trillion, a P/E ratio of 59.10, a P/E/G ratio of 4.25 and a beta of 1.25. The company has a debt ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.96.

Amazon.com (NASDAQ: AMZNGet a rating) last released its quarterly earnings data on Thursday, April 28. The e-commerce giant reported EPS of $0.21 for the quarter, missing analyst consensus estimates of $0.44 per ($0.23). The company posted revenue of $116.44 billion in the quarter, versus analyst estimates of $116.52 billion. Amazon.com had a return on equity of 21.60% and a net margin of 4.48%. The company’s quarterly revenue increased 7.3% year over year. In the same quarter a year earlier, the company posted EPS of $0.79. On average, research analysts expect Amazon.com, Inc. to post 1.13 EPS for the current fiscal year.

Insider activity

In related news, CEO David H. Clark sold 2,270 shares of the company in a transaction on Monday, May 23. The stock was sold at an average price of $2,169.22, for a total value of $4,924,129.40. Following completion of the transaction, the CEO now directly owns 6,695 shares of the company, valued at $14,522,927.90. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. In other Amazon.com news, CEO David H. Clark sold 2,270 shares in a trade on Monday, May 23. The stock was sold at an average price of $2,169.22, for a total transaction of $4,924,129.40. Following completion of the transaction, the CEO now directly owns 6,695 shares of the company, valued at $14,522,927.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, Vice President Shelley Reynolds sold 173 shares of the company in a trade on Monday, May 23. The shares were sold at an average price of $2,169.22, for a total value of $375,275.06. Following the completion of the sale, the vice president now owns 5,989 shares of the company, valued at $12,991,458.58. Disclosure of this sale can be found here. In the past three months, insiders have sold 4,803 shares of the company valued at $10,528,337. 12.70% of the shares are held by insiders of the company.

Analysts set new price targets

AMZN has been the subject of several recent research reports. TheStreet downgraded shares of Amazon.com from a “b” to a “c+” rating in a Thursday, April 28 research report. Redburn Partners launched a hedge on Amazon.com shares in a Wednesday, June 29 research report. They issued a “buy” rating and a price target of $270.00 for the company. Loop Capital lowered its price target on Amazon.com shares from $187.50 to $141.25 and set a “buy” rating for the company in a research report on Friday, May 27. Telsey Advisory Group lowered its price target on Amazon.com shares from $170.00 to $145.00 and set an “outperform” rating for the company in a Wednesday, July 13 research report. Finally, Canaccord Genuity Group lowered its price target on Amazon.com shares from $210.00 to $187.50 in a Friday, April 29 research report. Three equity research analysts rated the stock with a sell rating, one gave the company a hold rating and thirty-eight gave the company’s stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.31.

Amazon.co.uk Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The Company operates through three segments: North America, International and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Want to see what other hedge funds hold AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Amazon.com, Inc. (NASDAQ: AMZNGet a rating).

Institutional ownership by quarter for Amazon.com (NASDAQ:AMZN)



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