Comerica Bank Sells 63,781 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Comerica Bank lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,041,355 shares of the e-commerce giant's stock after selling 63,781 shares during the period. Amazon.com makes up 1.8% of Comerica Bank's holdings, making the stock its 6th biggest holding. Comerica Bank's holdings in Amazon.com were worth $447,853,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC boosted its position in shares of Amazon.com by 0.7% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 45,153 shares of the e-commerce giant's stock worth $9,906,000 after acquiring an additional 318 shares in the last quarter. Weaver Consulting Group lifted its stake in Amazon.com by 16.8% during the fourth quarter. Weaver Consulting Group now owns 14,152 shares of the e-commerce giant's stock worth $3,105,000 after purchasing an additional 2,035 shares during the last quarter. Worth Asset Management LLC increased its stake in Amazon.com by 2.1% in the fourth quarter. Worth Asset Management LLC now owns 3,638 shares of the e-commerce giant's stock valued at $798,000 after purchasing an additional 76 shares during the last quarter. Hilltop Wealth Advisors LLC increased its stake in Amazon.com by 12.4% in the fourth quarter. Hilltop Wealth Advisors LLC now owns 1,483 shares of the e-commerce giant's stock valued at $325,000 after purchasing an additional 164 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Amazon.com by 0.7% during the 4th quarter. Fulton Bank N.A. now owns 141,604 shares of the e-commerce giant's stock worth $31,066,000 after buying an additional 924 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,081 shares of company stock valued at $17,421,044 in the last three months. Corporate insiders own 9.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on AMZN. Piper Sandler reiterated an "overweight" rating and set a $212.00 price target (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on Amazon.com from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wedbush reissued an "outperform" rating and issued a $235.00 target price (up from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Canaccord Genuity Group restated a "buy" rating on shares of Amazon.com in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $244.09.

Amazon.com Price Performance

AMZN traded up $1.98 on Thursday, hitting $203.10. 38,797,180 shares of the company were exchanged, compared to its average volume of 41,908,253. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 36.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The business's fifty day moving average is $189.74 and its 200 day moving average is $208.74.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, sell-side analysts anticipate 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.