Amazon.com, Inc. (NASDAQ:AMZN) Stake Decreased by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management Inc. reduced its stake in Amazon.com by 10.9%, now holding 1,416,846 shares worth approximately $269.57 million, making it their 4th largest holding.
• Amazon.com reported better-than-expected quarterly earnings, with $1.68 EPS, surpassing the consensus estimate of $1.31, and a year-over-year revenue increase of 13.3% to $167.70 billion.
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon stock for nearly $960.67 million, leading to a 0.47% decrease in his ownership stake.

Bridges Investment Management Inc. decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,416,846 shares of the e-commerce giant's stock after selling 172,825 shares during the period. Amazon.com comprises about 3.9% of Bridges Investment Management Inc.'s holdings, making the stock its 4th largest holding. Bridges Investment Management Inc.'s holdings in Amazon.com were worth $269,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northern Capital Management Inc. raised its holdings 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 valued at $1,613,000 after acquiring an additional 45 shares during the period. Balanced Wealth Group LLC boosted its position in shares of 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 valued at $705,000 after buying an additional 48 shares during the period. ETF Store Inc. boosted its position in shares of Amazon.com by 2.1% during the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after buying an additional 48 shares during the period. Chatham Capital Group Inc. boosted its position in shares of Amazon.com by 0.8% during the fourth quarter. Chatham Capital Group Inc. now owns 6,019 shares of the e-commerce giant's stock valued at $1,321,000 after buying an additional 50 shares during the period. Finally, Foundry Financial Group Inc. boosted its position in shares of Amazon.com by 3.5% during the fourth quarter. Foundry Financial Group Inc. now owns 1,507 shares of the e-commerce giant's stock valued at $331,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,102,037 shares of company stock worth $5,674,937,048 over the last three months. Insiders own 10.80% of the company's stock.

Amazon.com Stock Up 3.9%

Amazon.com stock traded up $8.44 during mid-day trading on Wednesday, reaching $222.19. The company's stock had a trading volume of 54,656,017 shares, compared to its average volume of 45,179,059. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The business's 50 day simple moving average is $218.57 and its 200 day simple moving average is $208.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $265.00 target price on shares of Amazon.com in a research report on Friday, August 1st. Pivotal Research lifted their target price on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on Amazon.com from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised Amazon.com from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average 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.