Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,568,086 shares of the e-commerce giant’s stock after acquiring an additional 391,572 shares during the quarter. Amazon.com accounts for 3.4% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 4th biggest holding. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Amazon.com worth $4,864,584,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMZN. Norges Bank purchased a new position in shares of Amazon.com in the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC increased its stake in Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors grew its holdings in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after buying an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. increased its stake 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 last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on AMZN shares. Westpark Capital reiterated a “buy” rating and set a $280.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Wall Street Zen cut Amazon.com from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Robert W. Baird upped their price target on shares of Amazon.com from $220.00 to $244.00 and gave the company an “outperform” rating in a research report on Monday. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Finally, Wells Fargo & Company upped their price target on Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $250.02.

Amazon.com Stock Performance

Shares of AMZN stock opened at $229.19 on Tuesday. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm has a market capitalization of $2.43 trillion, a PE ratio of 37.33, a P/E/G ratio of 1.69 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $213.50 and a 200-day moving average price of $208.51.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 24.14% and a net margin of 10.14%. The firm had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,211,799.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the sale, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This represents a 0.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,335,232 shares of company stock worth $3,210,622,570. Insiders own 10.80% 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.