Amazon.com, Inc. (NASDAQ:AMZN) Stake Reduced by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,131,620 shares of the e-commerce giant's stock after selling 16,200 shares during the quarter. Amazon.com accounts for 3.4% of State of Michigan Retirement System's holdings, making the stock its 5th biggest holding. State of Michigan Retirement System's holdings in Amazon.com were worth $595,822,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in 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 buying an additional 17,635,391 shares during the last quarter. FMR LLC increased its holdings in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the period. Geode Capital Management LLC raised its position in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after purchasing an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock worth $40,107,544,000 after buying an additional 4,087,933 shares during the period. Finally, Norges Bank bought a new stake in shares of Amazon.com in the 4th quarter valued at about $27,266,582,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMZN. Truist Financial raised their price target 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. Roth Capital set a $250.00 price objective on Amazon.com and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Amazon.com from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. BMO Capital Markets increased their price target on Amazon.com from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Bank of America lifted their price objective on shares of Amazon.com from $265.00 to $272.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $262.45.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,102,037 shares of company stock valued at $5,674,937,048. Corporate insiders own 9.70% of the company's stock.

Amazon.com Stock Performance

Shares of Amazon.com stock traded down $0.44 during trading hours on Friday, reaching $222.69. The company had a trading volume of 32,911,537 shares, compared to its average volume of 45,060,172. The firm has a market cap of $2.37 trillion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The business has a fifty day simple moving average of $219.27 and a 200 day simple moving average of $209.03.

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

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.