Sumitomo Mitsui DS Asset Management Company Ltd Buys 66,050 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Sumitomo Mitsui DS Asset Management has increased its stake in Amazon.com by 4.8% in Q1, holding 1,431,572 shares, which makes it the firm's 4th largest position, valued at approximately $272 million.
• Multiple analysts have raised their price targets for Amazon, with Scotiabank setting a new price target at $275 and the consensus target price being $254.33.
• Insider activity includes Jeff Bezos selling over 4.2 million shares, indicating a significant transaction of approximately $960 million.

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,431,572 shares of the e-commerce giant's stock after buying an additional 66,050 shares during the quarter. Amazon.com accounts for 2.8% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 4th largest position. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Amazon.com were worth $272,371,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMZN. Cable Hill Partners LLC raised its holdings in shares of Amazon.com by 0.5% during 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. Northern Capital Management Inc. raised its stake in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after purchasing an additional 45 shares during the period. Balanced Wealth Group LLC raised its stake in Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after purchasing an additional 48 shares during the period. ETF Store Inc. boosted its holdings in Amazon.com by 2.1% in the 4th quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after purchasing an additional 48 shares during the last quarter. Finally, TD Capital Management LLC grew its stake in shares of Amazon.com by 1.6% in the 4th quarter. TD Capital Management LLC now owns 3,058 shares of the e-commerce giant's stock valued at $671,000 after buying an additional 49 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $0.82 on Wednesday, reaching $230.19. The company's stock had a trading volume of 32,258,949 shares, compared to its average volume of 33,970,456. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 37.49, a PEG ratio of 1.71 and a beta of 1.33. The stock's 50-day moving average is $217.31 and its two-hundred day moving average is $209.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the business earned $0.98 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 25,102,037 shares of company stock worth $5,674,871,223 in the last three months. 9.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMZN has been the topic of a number of recent analyst reports. DA Davidson decreased their price objective on Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley restated an "overweight" rating on shares of Amazon.com in a research report on Monday. Mizuho lowered their price target on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wall Street Zen downgraded Amazon.com from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their target price on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.52.

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.