Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.4% in the fourth quarter, Holdings Channel reports. The fund owned 182,699 shares of the e-commerce giant’s stock after purchasing an additional 12,540 shares during the period. Amazon.com accounts for about 0.8% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 13th largest holding. Sumitomo Life Insurance Co.’s holdings in Amazon.com were worth $40,082,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MBM Wealth Consultants LLC grew its holdings in Amazon.com by 0.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after acquiring an additional 48 shares in the last quarter. Semus Wealth Partners LLC lifted its position in shares of Amazon.com by 0.3% during the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after purchasing an additional 49 shares during the last quarter. Bell Investment Advisors Inc grew its stake in shares of Amazon.com by 1.5% during the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after purchasing an additional 51 shares in the last quarter. Eaton Cambridge Inc. increased its holdings in Amazon.com by 1.1% in the fourth quarter. Eaton Cambridge Inc. now owns 4,533 shares of the e-commerce giant’s stock valued at $994,000 after buying an additional 51 shares during the last quarter. Finally, Proathlete Wealth Management LLC raised its stake in Amazon.com by 0.4% in the fourth quarter. Proathlete Wealth Management LLC now owns 12,853 shares of the e-commerce giant’s stock valued at $2,820,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,611 shares of company stock valued at $11,122,402. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMZN shares. Scotiabank upped their price objective on Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Loop Capital boosted their target price on Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays increased their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. JMP Securities reissued a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on shares of Amazon.com from $212.00 to $207.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Stock Down 1.0 %

Amazon.com stock opened at $226.45 on Wednesday. The stock’s 50 day moving average price is $228.26 and its 200 day moving average price is $202.87. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market cap of $2.38 trillion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.24 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.