Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by PICTET BANK & TRUST Ltd

Key Points

• PICTET BANK & TRUST Ltd has reduced its holdings in Amazon.com, Inc. by 9.6%, selling 5,683 shares during the first quarter, while still maintaining $10,216,000 worth of the stock as its largest position.
• In the last 90 days, insiders, including Jeffrey P. Bezos, have sold a significant amount of shares, totaling approximately $5.67 billion, which reflects a 0.30% decrease in Bezos' ownership of the company.
• Brokerage firms have provided varying target prices for Amazon, with Needham & Company increasing their price target to $265.00 and Goldman Sachs lowering theirs to $220.00, showing a wide range in analyst opinions about the stock's future performance.

PICTET BANK & TRUST Ltd trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,697 shares of the e-commerce giant's stock after selling 5,683 shares during the quarter. Amazon.com comprises 12.5% of PICTET BANK & TRUST Ltd's portfolio, making the stock its largest position. PICTET BANK & TRUST Ltd's holdings in Amazon.com were worth $10,216,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA raised its position in Amazon.com by 2.2% in the first quarter. LFA Lugano Financial Advisors SA now owns 12,038 shares of the e-commerce giant's stock valued at $2,290,000 after purchasing an additional 255 shares during the period. Yukon Wealth Management Inc. bought a new stake in Amazon.com in the first quarter valued at about $5,140,000. Rossby Financial LCC increased its stake in Amazon.com by 36.0% during the first quarter. Rossby Financial LCC now owns 9,185 shares of the e-commerce giant's stock valued at $1,736,000 after purchasing an additional 2,433 shares during the last quarter. Phraction Management LLC boosted its stake in Amazon.com by 3.0% in the first quarter. Phraction Management LLC now owns 117,588 shares of the e-commerce giant's stock valued at $22,372,000 after acquiring an additional 3,405 shares during the period. Finally, Svenska Handelsbanken AB publ bought a new position in shares of Amazon.com during the first quarter valued at approximately $25,183,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Amazon.com from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Citizens Jmp assumed coverage on shares of Amazon.com in a report on Thursday, July 10th. They set a "strong-buy" rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. Citigroup boosted their target price on shares of Amazon.com from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Amazon.com from $240.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.52.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred 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 directly owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 25,102,037 shares of company stock valued at $5,674,871,223. Company insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $0.82 during trading on Wednesday, reaching $230.19. The stock had a trading volume of 32,258,949 shares, compared to its average volume of 33,970,456. The stock has a market capitalization of $2.44 trillion, a PE ratio of 37.49, a P/E/G ratio of 1.71 and a beta of 1.33. 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 52 week low of $151.61 and a 52 week high of $242.52. The business's 50-day moving average price is $217.31 and its 200 day moving average price is $209.12.

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 (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 firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts predict 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.