Summit Global Investments Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Global Investments reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 88.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,866 shares of the e-commerce giant's stock after selling 45,117 shares during the period. Summit Global Investments' holdings in Amazon.com were worth $1,116,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMZN. Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter worth about $27,266,582,000. GAMMA Investing LLC increased its stake in Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after buying an additional 30,104,520 shares in the last quarter. Capital World Investors raised its holdings in shares of Amazon.com by 36.8% during the fourth 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. lifted its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Amazon.com by 17,054.5% in the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at $95,776,017.26. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 2,695 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,037 shares of company stock valued at $20,531,075. Insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMZN. BNP Paribas raised shares of Amazon.com to a "hold" rating in a report on Wednesday, April 30th. Tigress Financial increased their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Mizuho lowered their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 25th. Finally, Westpark Capital restated a "buy" rating and issued a $280.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $244.89.

Amazon.com Stock Performance

NASDAQ:AMZN traded down $1.14 during mid-day trading on Friday, reaching $212.10. 29,295,190 shares of the stock were exchanged, compared to its average volume of 42,112,394. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a 50 day simple moving average of $195.47 and a 200-day simple moving average of $209.16. The stock has a market capitalization of $2.25 trillion, a P/E ratio of 38.35, a P/E/G ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results 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 net margin of 9.29% and a return on equity of 24.25%. 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 prior year, the firm earned $0.98 EPS. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. 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.