Magellan Asset Management Ltd Sells 325,497 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Magellan Asset Management Ltd lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 9.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,219,942 shares of the e-commerce giant's stock after selling 325,497 shares during the quarter. Amazon.com makes up approximately 7.8% of Magellan Asset Management Ltd's holdings, making the stock its largest position. Magellan Asset Management Ltd's holdings in Amazon.com were worth $706,423,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. Accordant Advisory Group Inc lifted its position in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the 4th quarter worth approximately $27,000. Perritt Capital Management Inc lifted its position in shares of Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after acquiring an additional 80 shares during the last quarter. Quattro Financial Advisors LLC raised its holdings in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after buying an additional 45 shares during the period. Finally, Compass Planning Associates Inc acquired a new position in Amazon.com in the 4th quarter worth approximately $51,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMZN shares. Oppenheimer lowered their price objective on shares of Amazon.com from $260.00 to $220.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Barclays lowered their price target on Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday. Benchmark reaffirmed a "buy" rating and set a $260.00 price objective on shares of Amazon.com in a report on Friday. Citizens Jmp decreased their price objective on shares of Amazon.com from $285.00 to $240.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, DA Davidson decreased their price target on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three 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 has an average rating of "Moderate Buy" and a consensus target price of $243.55.

Amazon.com Stock Performance

Shares of AMZN opened at $189.98 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.50 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $190.48 and a 200 day simple moving average of $207.92.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter last year, the company posted $0.98 earnings per share. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,798 shares of company stock valued at $23,341,803. Company insiders own 10.80% of the company's stock.

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.

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