Manning & Napier Advisors LLC Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Manning & Napier Advisors LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 27.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,201,192 shares of the e-commerce giant's stock after selling 454,379 shares during the period. Amazon.com accounts for approximately 2.8% of Manning & Napier Advisors LLC's holdings, making the stock its 4th biggest position. Manning & Napier Advisors LLC's holdings in Amazon.com were worth $228,539,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AMZN. Tallon Kerry Patrick acquired a new stake in shares of Amazon.com in the 4th quarter worth approximately $800,000. Capital & Planning LLC raised its holdings in shares of Amazon.com by 72.1% in the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after purchasing an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC raised its holdings in shares of Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after purchasing an additional 860 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Amazon.com in the 4th quarter worth approximately $301,650,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Trading Up 1.2%

AMZN stock traded up $2.76 on Friday, reaching $225.02. The company's stock had a trading volume of 50,481,094 shares, compared to its average volume of 42,089,069. The business has a fifty day simple moving average of $209.90 and a two-hundred day simple moving average of $208.63. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm has a market cap of $2.39 trillion, a PE ratio of 36.65, a PEG 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 (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 13,570 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total value of $2,746,703.70. Following the transaction, the senior vice president directly owned 47,030 shares of the company's stock, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 384,124 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $224.02, for a total value of $86,051,458.48. Following the completion of the transaction, the insider directly owned 901,995,325 shares in the company, valued at approximately $202,064,992,706.50. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,886,613 shares of company stock valued at $1,531,840,610 over the last quarter. Corporate insiders own 9.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial boosted their target price on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Jefferies Financial Group dropped their target price on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Roth Capital set a $250.00 price target on shares of Amazon.com and gave the company a "buy" rating in a report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $220.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Westpark Capital restated a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $249.42.

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.