Keybank National Association OH Sells 52,263 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Keybank National Association OH has reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6%, now owning approximately 3.16 million shares valued at about $601.94 million.
• Institutional ownership of Amazon.com is notably high, with over 72.20% of the stock held by institutional investors, reflecting strong confidence in the company.
• Amazon.com recently reported earnings significantly above estimates, achieving $1.59 EPS for the quarter, with revenue hitting $155.67 billion, showing an 8.6% increase year-over-year.

Keybank National Association OH cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,163,783 shares of the e-commerce giant's stock after selling 52,263 shares during the period. Amazon.com makes up about 2.4% of Keybank National Association OH's portfolio, making the stock its 8th biggest holding. Keybank National Association OH's holdings in Amazon.com were worth $601,941,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Yukon Wealth Management Inc. purchased a new stake in Amazon.com in the 1st quarter worth about $5,140,000. Rossby Financial LCC boosted its stake in shares of Amazon.com by 36.0% during the first quarter. Rossby Financial LCC now owns 9,185 shares of the e-commerce giant's stock valued at $1,736,000 after purchasing an additional 2,433 shares in the last quarter. Phraction Management LLC raised its position in shares of Amazon.com by 3.0% in the 1st quarter. Phraction Management LLC now owns 117,588 shares of the e-commerce giant's stock worth $22,372,000 after acquiring an additional 3,405 shares in the last quarter. Svenska Handelsbanken AB publ purchased a new position in shares of Amazon.com in the 1st quarter worth approximately $25,183,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Amazon.com by 4.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,431,572 shares of the e-commerce giant's stock worth $272,371,000 after purchasing an additional 66,050 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the transaction, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have 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 currently owned by corporate insiders.

Amazon.com Stock Performance

AMZN traded down $0.82 during trading on Wednesday, hitting $230.19. 32,258,949 shares of the stock were exchanged, compared to its average volume of 33,970,456. The firm 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. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The stock has a fifty day moving average price of $217.31 and a two-hundred day moving average price of $209.12. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

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

Analyst Ratings Changes

Several research firms have recently commented on AMZN. UBS Group reiterated a "buy" rating and set a $271.00 price objective (up from $249.00) on shares of Amazon.com in a research note on Monday. Scotiabank upped their price target on Amazon.com from $250.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price target on Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Truist Financial raised their price target on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.