Retirement Systems of Alabama Has $701.24 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Retirement Systems of Alabama reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,685,674 shares of the e-commerce giant's stock after selling 10,828 shares during the period. Amazon.com comprises 2.7% of Retirement Systems of Alabama's investment portfolio, making the stock its 4th largest holding. Retirement Systems of Alabama's holdings in Amazon.com were worth $701,236,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC acquired a new position in Amazon.com during the 4th quarter worth approximately $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new position in Amazon.com during the 4th quarter worth approximately $35,000. Perritt Capital Management Inc boosted its holdings in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after buying an additional 80 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new position in shares of Amazon.com in the 4th quarter valued at $51,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

NASDAQ:AMZN traded down $4.11 during mid-day trading on Tuesday, hitting $219.36. 45,528,040 shares of the company's stock traded hands, compared to its average volume of 42,024,399. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market cap of $2.33 trillion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. The firm's 50 day simple moving average is $207.16 and its 200 day simple moving average is $208.51. 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 released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) 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 business had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the company earned $0.98 earnings per share. The company's quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMZN. Citizens Jmp lowered their target price on shares of Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Piper Sandler restated an "overweight" rating and issued a $212.00 target price (down previously from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. DA Davidson lowered their target price on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a report on Monday, April 14th. BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Royal Bank Of Canada lowered their target price on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of "Moderate Buy" and an average target price of $246.41.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer owned 2,148,694 shares in the company, valued at $432,532,102.20. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 3,100,000 shares of Amazon.com stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $221.42, for a total transaction of $686,402,000.00. Following the sale, the insider owned 905,679,901 shares in the company, valued at $200,535,643,679.42. This represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,426,963 shares of company stock valued at $757,297,707 in the last three months. 10.80% of the stock is owned by company insiders.

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.