Exchange Capital Management Inc. Sells 1,191 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Exchange Capital Management Inc. sold 1,191 shares of Amazon.com, reducing its stake by 1.2% and holding 99,435 shares worth approximately $18.9 million.
• In the fourth quarter, several major investors, including Vanguard Group Inc. and FMR LLC, increased their holdings in Amazon, reflecting strong institutional interest.
• Amazon's stock price was down to $222.69, with a market capitalization of $2.37 trillion and strong quarterly earnings, beating analyst expectations at $1.68 EPS.

Exchange Capital Management Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,435 shares of the e-commerce giant's stock after selling 1,191 shares during the period. Amazon.com comprises 3.1% of Exchange Capital Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Exchange Capital Management Inc.'s holdings in Amazon.com were worth $18,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. FMR LLC raised its position in shares of Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after buying an additional 1,725,664 shares in the last quarter. Geode Capital Management LLC increased its stake in Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after acquiring an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after acquiring an additional 4,087,933 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter valued at about $27,266,582,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 25,102,037 shares of company stock valued at $5,674,937,048 in the last quarter. Insiders own 9.70% of the company's stock.

Amazon.com Price Performance

NASDAQ:AMZN traded down $0.44 during midday trading on Friday, hitting $222.69. 32,911,537 shares of the stock were exchanged, compared to its average volume of 47,624,592. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 1.50 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The business has a 50-day moving average price of $219.65 and a two-hundred day moving average price of $208.98.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMZN shares. Raymond James Financial reissued an "outperform" rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Benchmark reissued a "buy" rating and issued a $260.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Pivotal Research upped their price objective on Amazon.com from $260.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, August 1st. HSBC raised their price objective on Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Finally, Monness Crespi & Hardt boosted their target price on Amazon.com from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $262.45.

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.