First Interstate Bank Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• First Interstate Bank has decreased its stake in Amazon.com, Inc. by 5.2% during the first quarter, holding 69,867 shares valued at approximately $13.3 million.
• Amazon reported $1.68 earnings per share for the most recent quarter, exceeding analyst expectations of $1.31, along with revenue of $167.7 billion, a 13.3% increase year-over-year.
• Insider Jeffrey Bezos sold over 2.6 million shares of Amazon, impacting his holdings but still retaining approximately $203.6 billion in shares.

First Interstate Bank lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,867 shares of the e-commerce giant's stock after selling 3,811 shares during the period. Amazon.com accounts for approximately 0.8% of First Interstate Bank's investment portfolio, making the stock its 22nd biggest position. First Interstate Bank's holdings in Amazon.com were worth $13,293,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMZN. Brighton Jones LLC lifted its holdings in Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after buying an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after purchasing an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE grew its position in Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock worth $6,357,000 after purchasing an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new stake in shares of Amazon.com in the 4th quarter worth $2,153,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group restated a "buy" rating and set a $271.00 target price (up from $249.00) on shares of Amazon.com in a report on Monday, July 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Jefferies Financial Group lifted their price target on shares of Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. JMP Securities reissued a "market outperform" rating and set a $285.00 target price on shares of Amazon.com in a research report on Friday, August 1st. Finally, Benchmark reaffirmed a "buy" rating and issued a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of "Buy" and an average price target of $262.45.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction that occurred 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 25,102,037 shares of company stock worth $5,674,937,048 over the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

AMZN traded up $8.44 on Wednesday, hitting $222.19. 54,656,017 shares of the stock were exchanged, compared to its average volume of 45,179,059. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 33.87, a PEG ratio of 1.45 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 50-day moving average of $218.57 and a two-hundred day moving average of $208.96.

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 the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.