Sumitomo Life Insurance Company reduced its holding of Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% in the third quarter, according to its latest Form 13F filed with the Securities and Exchange Commission. Institutional investors owned 128,507 shares of the e-commerce giant after selling 11,415 shares during the period. Amazon.com accounts for approximately 0.6% of Sumitomo Life Insurance’s portfolio, making it the tenth largest market share. Sumitomo Life Insurance Company’s holdings of assets on Amazon.com were valued at $14,521,000 as of the latest filing with the SEC.
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Several other institutional investors have also changed their holdings of AMZN. State Street Corp increased its stake in Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares in the e-commerce giant after acquiring an additional 310,134,486 shares in the previous quarter. Price T Rowe Associates Inc. MD increased its stake in Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares in the e-commerce giant after acquiring an additional 295.88 million of his shares last quarter. FMR LLC increased its stake in Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant valued at $3,038,108,900 after acquiring an additional 270,931,640 shares in the previous quarter. Northern Trust Corporation increased its stake in Amazon by 1,867.0% in the second quarter. Northern Trust Corporation now owns 94,997,372 shares of the e-commerce giant valued at $10,089,669,000 after acquiring an additional 90,167,792 shares in the previous quarter. Finally, Legal & General Group Plc increased its stake in Amazon.com by 1,944.4% in the second quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant valued at $6,370,223,000 after acquiring an additional 57,043,701 shares in the previous quarter. Institutional investors and hedge funds own 57.64% of the company’s shares.
In other news, CEO Adam Selipsky sold 345 shares of Amazon.com stock on Tuesday, November 1st. The shares were sold at an average price of $102.00 for a total of $35,190.00. Following the closing of the sale, the CEO now owns 112,795 shares of the Company’s stock valued at $11,505,090. The sale is disclosed in documents filed with the SEC and available on his website. In separate news, CEO Adam Selipsky sold 345 shares of his Amazon.com stock on Tuesday, November 1st. The shares were sold at an average price of $102.00 for a total of $35,190.00. Following the closing of the sale, the CEO now owns 112,795 shares of the Company’s stock valued at $11,505,090. The sale is disclosed in documents filed with the SEC and available on his website. VP Shelley Reynolds also sold 3,500 shares of his Amazon.com stock on Monday, November 21st. The shares sold for an average of $94.00 for a total of $329,000.00. Following the closing of the sale, the Vice President now directly owns 119,780 shares of the Company’s stock valued at approximately $11,259,320. Please see here for the disclosure of this sale. Insiders say he sold a total of 52,428 shares of company stock worth $5,077,578 in the last quarter. A company insider owns his 12.70% of the company’s shares.
Wall Street analyst opinion
Several equity research analysts have recently published reports on equities. New Street Research covered Amazon.com stock in its research report on Wednesday, January 4th. They set a “buy” rating for the company and a price target of $130.00. Wolfe Research lowered its price target for Amazon.com from $150.00 to $130.00, setting the company’s valuation at “Outperform” in its research report on Friday, October 28. Raymond James lowered his price target for Amazon.com from $164.00 to $130.00 and set the company’s valuation to “outperform” in a research report on Friday, Oct. 28. DA Davidson lowered his price target for Amazon.com stock to $114.00 in a research report on Thursday, Dec. 1. Finally, StockNews.com covered his stake in Amazon.com in his Wednesday Oct. 12 research report. They set a “pending” rating on the company. Two research analysts rated the stock with a sell rating, three gave a hold rating, and 41 issued a buy rating on the company’s stock. Based on MarketBeat.com data, the company’s current consensus rating is “moderate buy” with an average target price of $145.41.
Amazon.com stock performance
NASDAQ AMZN opened Friday at $102.24. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83. The stock has a market cap of $1.04 trillion, a price/earnings ratio of 93.84, a price/earnings ratio of 3.11, and a beta of 1.22. The 50-day moving average for this business is $90.90 and the 200-day moving average is $109.73. The company has a quick ratio of 0.68, a current ratio of 0.94 and a debt to equity ratio of 0.43.
Amazon.com (NASDAQ:AMZN – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported EPS of $0.20 for the quarter, missing out on analyst consensus estimates of $0.22 ($0.02). The business’ quarterly revenue was $127.1 billion, compared with analysts’ forecasts of $127.47 billion. Amazon.com had a net profit margin of 2.25% and a return on equity of 14.44%. His Amazon.com earnings for the quarter increased him 14.7% year-over-year. His EPS earnings for the company in the same period last year were $0.31. As a group, analysts expect Amazon.com, Inc. to post earnings of 0.67 per share for the current financial year.
Amazon.com, Inc. is a multinational technology company engaged in providing online retail shopping services. It operates through North America, International, and Amazon Web Services (AWS) business segments. The North America segment includes retail sales and subscriptions of consumer goods through North America-focused websites such as www.amazon.com and www.amazon.ca.
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