First Interstate Bank Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

First Interstate Bank decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,867 shares of the e-commerce giant’s stock after selling 3,811 shares during the quarter. Amazon.com comprises 0.8% of First Interstate Bank’s portfolio, making the stock its 22nd biggest holding. First Interstate Bank’s holdings in Amazon.com were worth $13,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com during the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com during the 4th quarter valued at $27,000. LSV Asset Management purchased a new position in Amazon.com during the 4th quarter valued at $35,000. Cooksen Wealth LLC purchased a new position in Amazon.com during the 1st quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Amazon.com during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 1.4%

Shares of NASDAQ:AMZN opened at $211.65 on Tuesday. The business’s 50-day moving average is $218.42 and its 200 day moving average is $208.93. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a market capitalization of $2.25 trillion, a P/E ratio of 32.26, a P/E/G ratio of 1.57 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same period in the prior year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a report on Friday. Oppenheimer lowered their target price on Amazon.com from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus upped their target price on Amazon.com from $245.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on Amazon.com from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Buy” and an average target price of $262.45.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. 10.80% of the stock is currently owned by insiders.

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.