Norges Bank Invests $27.27 Billion in Amazon.com, Inc. (NASDAQ:AMZN)

Norges Bank bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 124,283,614 shares of the e-commerce giant's stock, valued at approximately $27,266,582,000. Amazon.com makes up about 3.6% of Norges Bank's investment portfolio, making the stock its 4th largest position. Norges Bank owned approximately 1.18% of Amazon.com at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rench Wealth Management Inc. raised its position in shares of Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant's stock worth $9,392,000 after buying an additional 3,703 shares during the period. Momentous Wealth Management Inc. acquired a new position in Amazon.com in the fourth quarter worth about $749,000. Segall Bryant & Hamill LLC lifted its position in shares of Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after buying an additional 39,696 shares during the last quarter. Blankinship & Foster LLC lifted its holdings in shares of Amazon.com by 216.4% in the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant's stock worth $1,291,000 after purchasing an additional 4,740 shares during the last quarter. Finally, One Wealth Capital Management LLC bought a new position in shares of Amazon.com during the fourth quarter worth about $4,270,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMZN shares. Cantor Fitzgerald cut their price objective on Amazon.com from $270.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Citigroup reduced their price objective on shares of Amazon.com from $273.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group decreased their price objective on Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays upped their target price on Amazon.com from $235.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $246.50.

Insider Transactions at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company's stock, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock worth $23,341,803 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Amazon.com Stock Up 2.9 %

Shares of Amazon.com stock traded up $5.28 on Thursday, hitting $189.70. The company had a trading volume of 13,902,199 shares, compared to its average volume of 41,569,011. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 34.22, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The stock has a 50-day moving average of $191.39 and a 200-day moving average of $207.74.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com 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.