Mandatum Life Insurance Co Ltd Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Mandatum Life Insurance Co Ltd trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 18.6% during the first quarter, Holdings Channel reports. The fund owned 8,026 shares of the e-commerce giant’s stock after selling 1,830 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Amazon.com were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com in the fourth quarter valued at about $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $35,000. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the first quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Amazon.com in the first quarter valued at approximately $40,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. Company insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

AMZN has been the topic of several research reports. Raymond James Financial reissued an “outperform” rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Tigress Financial upped their target price on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Piper Sandler upped their target price on shares of Amazon.com from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $300.00 target price on shares of Amazon.com in a report on Thursday. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and an average target price of $262.87.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $231.03 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a market capitalization of $2.46 trillion, a P/E ratio of 35.22, a P/E/G ratio of 1.56 and a beta of 1.31. The firm’s 50 day simple moving average is $221.41 and its two-hundred day simple moving average is $208.64.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.