Skye Global Management LP Sells 594,169 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Skye Global Management LP cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,324,000 shares of the e-commerce giant's stock after selling 594,169 shares during the period. Amazon.com accounts for about 51.8% of Skye Global Management LP's holdings, making the stock its biggest position. Skye Global Management LP owned approximately 0.11% of Amazon.com worth $2,484,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cable Hill Partners LLC lifted its stake in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock worth $2,104,000 after acquiring an additional 44 shares during the period. Quattro Financial Advisors LLC increased its position in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after buying an additional 45 shares in the last quarter. Northern Capital Management Inc. increased its holdings in Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after acquiring an additional 45 shares in the last quarter. White Wing Wealth Management raised its position in shares of Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after purchasing an additional 47 shares during the last quarter. Finally, MBM Wealth Consultants LLC lifted its position in shares of Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after acquiring an additional 48 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group lowered their target price on Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Mizuho dropped their price target on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler reiterated an "overweight" rating and set a $212.00 target price (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Raymond James reiterated an "outperform" rating and issued a $195.00 price target (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $244.09.

Amazon.com Stock Down 0.9%

Shares of AMZN stock traded down $1.77 during trading hours on Friday, reaching $203.93. 51,641,602 shares of the company's stock were exchanged, compared to its average volume of 42,089,558. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock's 50 day moving average is $190.60 and its 200-day moving average is $208.70. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, VP Shelley Reynolds sold 2,695 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the sale, the vice president now directly owns 119,780 shares in the company, valued at $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 509,474 shares of the company's stock, valued at approximately $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,537 shares of company stock valued at $20,018,625 over the last ninety days. Corporate insiders own 9.70% of the company's stock.

Amazon.com 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.