Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,321 shares of the e-commerce giant’s stock after selling 5,379 shares during the period. Amazon.com accounts for 1.6% of Cullen Investment Group LTD.’s holdings, making the stock its 13th largest position. Cullen Investment Group LTD.’s holdings in Amazon.com were worth $10,716,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMZN. Norges Bank purchased a new position in Amazon.com during the fourth quarter worth approximately $27,266,582,000. Capital World Investors raised its position in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Vanguard Group Inc. raised its position 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 purchasing an additional 17,635,391 shares during the period. Proficio Capital Partners LLC raised its position in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Finally, Capital International Investors raised its position in Amazon.com by 26.5% in the fourth quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock valued at $12,564,961,000 after purchasing an additional 12,000,745 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays reduced their target price on Amazon.com from $265.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company reduced their target price on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 25th. Benchmark reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Rosenblatt Securities lifted their price objective on Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised Amazon.com to a “hold” rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.89.

Amazon.com Price Performance

NASDAQ AMZN opened at $213.57 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 38.62, a P/E/G ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The business’s fifty day moving average is $191.84 and its two-hundred day moving average is $208.82.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share 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 for the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.67, for a total value of $476,675.00. Following the sale, the chief executive officer now directly owns 506,974 shares of the company’s stock, valued at approximately $96,664,732.58. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock worth $20,531,075 in the last quarter. Insiders own 9.70% of the company’s stock.

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.