Intact Investment Management Inc. Sells 2,900 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Intact Investment Management Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,100 shares of the e-commerce giant's stock after selling 2,900 shares during the quarter. Intact Investment Management Inc.'s holdings in Amazon.com were worth $5,156,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Amazon.com in the fourth quarter worth about $27,266,582,000. GAMMA Investing LLC raised its holdings in Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors increased its holdings in shares of Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after acquiring an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 13,570 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total value of $2,746,703.70. Following the sale, the senior vice president owned 47,030 shares in the company, valued at $9,519,342.30. This represents a 22.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the sale, the chief executive officer owned 2,148,694 shares in the company, valued at $432,532,102.20. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,886,613 shares of company stock worth $1,531,840,610. 9.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several research reports. Rosenblatt Securities increased their price target on shares of Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Moffett Nathanson raised their price objective on shares of Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. BNP Paribas raised shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. UBS Group reaffirmed a "buy" rating on shares of Amazon.com in a research note on Tuesday, May 6th. Finally, Oppenheimer lifted their target price on shares of Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $248.31.

Amazon.com Stock Down 0.1%

Shares of NASDAQ:AMZN opened at $222.26 on Friday. The company has a fifty day moving average of $209.20 and a 200-day moving average of $208.66. The company has a market capitalization of $2.36 trillion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. 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, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts predict 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.

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