BOCHK Asset Management Ltd Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• BOCHK Asset Management Ltd reduced its stake in Amazon.com by 40.9%, selling 28,341 shares and retaining 40,900 shares, which now represents 4.4% of its portfolio.
• Amazon reported $1.68 earnings per share for the last quarter, surpassing analysts' estimates of $1.31 and achieving a revenue of $167.70 billion, a 13.3% increase compared to the previous year.
• The stock has been upgraded by multiple analysts, with a consensus rating of "Buy" and a price target of approximately $260.85.

BOCHK Asset Management Ltd reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 40.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,900 shares of the e-commerce giant's stock after selling 28,341 shares during the quarter. Amazon.com makes up 4.4% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 11th largest position. BOCHK Asset Management Ltd's holdings in Amazon.com were worth $7,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com in the 4th quarter valued at about $27,000. LSV Asset Management acquired a new stake in Amazon.com in the fourth quarter worth about $35,000. Perritt Capital Management Inc lifted its holdings in shares of Amazon.com by 72.7% during the 4th 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 in the last quarter. Inlight Wealth Management LLC bought a new stake in Amazon.com in the 1st quarter valued at approximately $40,000. Finally, Capitol Family Office Inc. acquired a new position in shares of Amazon.com during the 1st quarter worth approximately $42,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of Amazon.com stock traded down $19.36 during trading hours on Friday, hitting $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The business has a 50 day moving average price of $218.20 and a two-hundred day moving average price of $209.11. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a market cap of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. Amazon.com's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AMZN. BNP Paribas Exane upgraded Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price for the company in a research report on Friday, June 27th. Piper Sandler raised their price objective on Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday. Cowen reaffirmed a "buy" rating on shares of Amazon.com in a research report on Friday. Monness Crespi & Hardt boosted their price objective on Amazon.com from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Evercore ISI lowered their target price on Amazon.com from $270.00 to $260.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of "Buy" and an average target price of $262.45.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the sale, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. 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.