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

Sumitomo Life Insurance Co. boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the first quarter, HoldingsChannel.com reports. The fund owned 184,765 shares of the e-commerce giant’s stock after acquiring an additional 2,066 shares during the quarter. Amazon.com comprises about 1.3% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 10th largest holding. Sumitomo Life Insurance Co.’s holdings in Amazon.com were worth $35,153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the 4th quarter worth about $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter worth about $35,000. Cooksen Wealth LLC acquired a new stake in Amazon.com during the 1st quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in Amazon.com during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the sale, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 25,101,037 shares of company stock worth $5,674,726,368 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Down 0.6%

NASDAQ:AMZN opened at $221.30 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $219.94 and its two-hundred day moving average is $208.52. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31.

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

Analysts Set New Price Targets

A number of analysts have commented on AMZN shares. Telsey Advisory Group lifted their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Tigress Financial boosted their price objective on Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Jefferies Financial Group boosted their price objective on Amazon.com from $255.00 to $265.00 in a report on Wednesday, July 16th. Wedbush boosted their price objective on Amazon.com from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Finally, BNP Paribas raised Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $262.45.

About Amazon.com

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.