Arizona State Retirement System Grows Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Arizona State Retirement System grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,661,383 shares of the e-commerce giant’s stock after buying an additional 47,587 shares during the period. Amazon.com comprises approximately 3.1% of Arizona State Retirement System’s holdings, making the stock its 3rd biggest position. Arizona State Retirement System’s holdings in Amazon.com were worth $404,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMZN. Fiduciary Planning LLC increased its holdings in Amazon.com by 1.5% during the 1st quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after purchasing an additional 5 shares during the period. HBC Financial Services PLLC increased its holdings in Amazon.com by 0.8% during the 1st quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after purchasing an additional 5 shares during the period. Meridian Investment Counsel Inc. increased its holdings in Amazon.com by 3.4% during the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after purchasing an additional 5 shares during the period. Alterna Wealth Management Inc. increased its holdings in Amazon.com by 1.8% during the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after purchasing an additional 5 shares during the period. Finally, Archetype Wealth Partners increased its holdings in Amazon.com by 3.7% during the 1st quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock worth $552,000 after purchasing an additional 6 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Amazon.com in a report on Wednesday, April 10th. Oppenheimer lifted their price target on Amazon.com from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. lifted their price target on Amazon.com from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Morgan Stanley lifted their price target on Amazon.com from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Evercore ISI lifted their price target on Amazon.com from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $202.80.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the sale, the insider now directly owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the transaction, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the transaction, the insider now owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The disclosure for this sale can be found here. In the last three months, insiders sold 32,213,510 shares of company stock worth $5,505,798,456. Corporate insiders own 12.30% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $174.63 on Friday. Amazon.com, Inc. has a 12 month low of $101.15 and a 12 month high of $189.77. The stock has a 50 day moving average of $177.28 and a two-hundred day moving average of $156.83. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.82 trillion, a P/E ratio of 60.22, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company had revenue of $169.96 billion during the quarter, compared to analyst estimates of $165.96 billion. During the same period in the previous year, the business earned $0.21 EPS. Amazon.com’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts expect that Amazon.com, Inc. will post 4.1 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.