Victory Capital Management Inc. Sells 79,830 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Victory Capital Management Inc. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,090,193 shares of the e-commerce giant's stock after selling 79,830 shares during the quarter. Amazon.com accounts for 1.4% of Victory Capital Management Inc.'s investment portfolio, making the stock its 4th biggest position. Victory Capital Management Inc. owned 0.07% of Amazon.com worth $1,348,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in 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 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 buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC increased its holdings in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after buying an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after buying an additional 4,087,933 shares during the last quarter. Finally, Norges Bank bought a new stake in Amazon.com in the fourth quarter valued at about $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analyst Weigh In

AMZN has been the subject of several research analyst reports. Cowen reissued a "buy" rating on shares of Amazon.com in a report on Friday, August 1st. Pivotal Research upped their target price on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a report on Friday, August 1st. Robert W. Baird upped their target price on Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $265.00 target price on shares of Amazon.com in a report on Wednesday. Finally, Citizens Jmp started coverage on Amazon.com in a report on Thursday, July 10th. They set a "strong-buy" rating for the company. One 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $262.87.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the transaction, the chief executive officer directly owned 512,050 shares of the company's stock, valued at $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction 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. Insiders have sold a total of 25,096,253 shares of company stock valued at $5,673,745,409 in the last ninety days. Company insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN traded up $0.05 during mid-day trading on Friday, hitting $231.03. 39,600,434 shares of the stock were exchanged, compared to its average volume of 47,994,872. The company has a market cap of $2.46 trillion, a P/E ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. The stock's fifty day simple moving average is $221.41 and its two-hundred day simple moving average is $208.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The business 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 23.84%. Amazon.com's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. As a group, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.