Pictet Asset Management Holding SA Has $1.42 Billion Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Pictet Asset Management Holding SA reduced its holdings in Amazon.com, Inc. by 4.7%, now owning 7,450,329 shares, making Amazon its 6th largest position.
• Several institutional investors increased their stakes in Amazon, with Vanguard Group Inc. acquiring an additional 17,635,391 shares in the fourth quarter, raising their total to nearly $180.6 billion in holdings.
• Amazon reported earnings of $1.68 per share for the last quarter, significantly exceeding analysts' expectations of $1.31, with revenue of $167.7 billion compared to a forecast of $161.8 billion.

Pictet Asset Management Holding SA reduced its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,450,329 shares of the e-commerce giant's stock after selling 363,649 shares during the period. Amazon.com comprises 1.6% of Pictet Asset Management Holding SA's investment portfolio, making the stock its 6th biggest position. Pictet Asset Management Holding SA owned approximately 0.07% of Amazon.com worth $1,417,625,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter valued at $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com in the fourth quarter valued at $35,000. Perritt Capital Management Inc grew its position in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the period. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the first quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Amazon.com in the first quarter valued at $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Amazon.com from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Citigroup reaffirmed an "overweight" rating on shares of Amazon.com in a research report on Wednesday. Wall Street Zen raised Amazon.com from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Cantor Fitzgerald lifted their price objective on Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Truist Financial lifted their target price on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $262.87.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company'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 directly owned 512,050 shares of the company's stock, valued at $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,096,253 shares of company stock valued at $5,673,745,409. 9.70% of the stock is owned by corporate insiders.

Amazon.com Stock Up 0.0%

Amazon.com stock traded up $0.05 during midday trading on Friday, hitting $231.03. The stock had a trading volume of 39,600,434 shares, compared to its average volume of 47,994,872. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.46 trillion, a P/E ratio of 35.22, a P/E/G ratio of 1.56 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 has a fifty day moving average price of $221.41 and a 200 day moving average price of $208.64.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. Research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.