Penserra Capital Management LLC Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Penserra Capital Management LLC reduced its stake in Amazon.com, Inc. by 53.2%, selling 27,004 shares, leaving it with 23,728 shares valued at approximately $4.5 million.
• Amazon reported strong quarterly earnings with $1.68 EPS, surpassing analysts’ expectations, and revenue of $167.7 billion, reflecting a 13.3% increase year-over-year.
• Research analysts are bullish on Amazon's stock, with many firms upgrading their price targets, including Scotiabank raising it to $275.00 and Deutsche Bank to $266.00.

Penserra Capital Management LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 53.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,728 shares of the e-commerce giant's stock after selling 27,004 shares during the period. Penserra Capital Management LLC's holdings in Amazon.com were worth $4,513,000 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 shares of Amazon.com in the 4th quarter valued at $27,266,582,000. GAMMA Investing LLC increased its holdings in shares of Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after acquiring an additional 30,104,520 shares during the last quarter. Capital World Investors increased its holdings in shares of Amazon.com by 36.8% in the 4th 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 during the last quarter. Vanguard Group Inc. boosted its position in shares of 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 valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. Finally, Capital International Investors boosted its position in shares of Amazon.com by 26.5% in the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock valued at $12,564,961,000 after purchasing an additional 12,000,745 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

NASDAQ AMZN traded down $19.36 on Friday, hitting $214.75. The company had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The company has a market capitalization of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The company's fifty day moving average price is $218.20 and its 200-day moving average price is $209.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly 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. The company had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMZN. Telsey Advisory Group increased their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday. Royal Bank Of Canada lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday. Needham & Company LLC set a $265.00 price target on Amazon.com and gave the stock a "buy" rating in a research report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amazon.com in a research report on Friday. Finally, Cantor Fitzgerald lifted their price objective on Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of "Buy" and an average price target of $262.45.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on 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 owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 25,099,537 shares of company stock worth $5,674,394,548. Insiders own 9.70% of the company's stock.

Amazon.com Company 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.