Mandatum Life Insurance Co Ltd Sells 1,830 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Mandatum Life Insurance Co Ltd reduced its holdings in Amazon.com by 18.6%, selling 1,830 shares and now owning 8,026 shares valued at approximately $1.53 million.
• Analysts generally have a positive outlook on Amazon, with one firm raising the target price from $240.00 to $275.00, indicating an "overweight" rating.
• Insider sales included Jeffrey P. Bezos selling over 2.6 million shares, valued at around $609 million, decreasing his ownership by 0.30%.

Mandatum Life Insurance Co Ltd lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,026 shares of the e-commerce giant's stock after selling 1,830 shares during the period. Mandatum Life Insurance Co Ltd's holdings in Amazon.com were worth $1,527,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,096,253 shares of company stock worth $5,673,745,409 over the last three months. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on AMZN shares. Evercore ISI reissued an "outperform" rating and issued a $280.00 price target on shares of Amazon.com in a research note on Wednesday. JMP Securities reissued a "market outperform" rating and issued a $285.00 price target on shares of Amazon.com in a research note on Friday, August 1st. The Goldman Sachs Group reissued a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Cantor Fitzgerald boosted their price target on shares of Amazon.com from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Westpark Capital restated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $262.87.

Amazon.com Stock Up 0.0%

Shares of NASDAQ:AMZN traded up $0.05 during midday trading on Friday, reaching $231.03. The company's stock had a trading volume of 39,600,434 shares, compared to its average volume of 47,994,872. The firm has a 50 day moving average of $221.41 and a 200-day moving average of $208.64. The firm has a market capitalization of $2.46 trillion, a P/E ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52.

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

About Amazon.com

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.