Amazon.com, Inc. (NASDAQ:AMZN) is Ameriprise Financial Inc.’s 4th Largest Position

Ameriprise Financial Inc. cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,436,738 shares of the e-commerce giant’s stock after selling 2,152,827 shares during the period. Amazon.com comprises 2.3% of Ameriprise Financial Inc.’s holdings, making the stock its 4th largest holding. Ameriprise Financial Inc. owned approximately 0.38% of Amazon.com worth $8,870,830,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AMZN. Accordant Advisory Group Inc lifted its stake in shares of 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. bought a new position in shares of Amazon.com during the 4th quarter valued at approximately $27,000. LSV Asset Management purchased a new stake in Amazon.com during the 4th quarter valued at $35,000. Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC lifted its position in Amazon.com by 23.8% in the fourth 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 last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMZN shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. JMP Securities reissued a “market outperform” rating on shares of Amazon.com in a research report on Tuesday, May 6th. DA Davidson decreased their price objective on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Wall Street Zen cut Amazon.com from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Truist Financial decreased their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.09.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 4,784 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $205.05, for a total transaction of $980,959.20. Following the completion of the sale, the chief executive officer now owns 514,150 shares of the company’s stock, valued at $105,426,457.50. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 19,212 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the sale, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at $10,864,125. The trade was a 27.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,996 shares of company stock valued at $6,316,899 over the last 90 days. Insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

AMZN opened at $203.10 on Friday. The firm has a market capitalization of $2.16 trillion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business’s 50-day moving average is $189.89 and its two-hundred day moving average is $208.79. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. Research 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.