Amazon.com, Inc. (NASDAQ:AMZN) is Cannell & Spears LLC's 5th Largest Position

Cannell & Spears LLC reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 548,552 shares of the e-commerce giant's stock after selling 52,330 shares during the period. Amazon.com accounts for approximately 2.5% of Cannell & Spears LLC's portfolio, making the stock its 5th largest position. Cannell & Spears LLC's holdings in Amazon.com were worth $120,347,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. State Street Corp boosted its position in Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC boosted its position in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares in the last quarter. Norges Bank bought a new stake in Amazon.com during the 4th quarter valued at approximately $27,266,582,000. Finally, Bank of New York Mellon Corp boosted its position in Amazon.com by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant's stock valued at $14,719,407,000 after acquiring an additional 545,292 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AMZN. Royal Bank of Canada lifted their price objective on Amazon.com from $255.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Cantor Fitzgerald cut their price objective on Amazon.com from $270.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus reduced their price objective on Amazon.com from $275.00 to $248.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Oppenheimer lowered their price objective on Amazon.com from $260.00 to $220.00 and set an "outperform" rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.50.

Amazon.com Stock Performance

Shares of AMZN opened at $184.42 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $191.39 and a two-hundred day simple moving average of $207.74. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares of the company's stock, valued at $95,776,017.26. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by corporate insiders.

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.

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