Bailard Inc. Lowers Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Bailard Inc. trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,048 shares of the e-commerce giant’s stock after selling 5,856 shares during the period. Amazon.com accounts for about 1.3% of Bailard Inc.’s holdings, making the stock its 19th biggest holding. Bailard Inc.’s holdings in Amazon.com were worth $49,857,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Amazon.com in the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC raised its position 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 during the last quarter. Capital World Investors increased its stake in Amazon.com by 36.8% in 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 period. Vanguard Group Inc. increased its stake in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares during the period. Finally, Capital International Investors increased its stake in Amazon.com by 26.5% in the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock valued at $12,564,961,000 after buying an additional 12,000,745 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,096,253 shares of company stock worth $5,673,745,409. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMZN. Truist Financial upped their price target on shares of Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Evercore ISI reissued an “outperform” rating and issued a $280.00 target price on shares of Amazon.com in a research report on Wednesday. Barclays lifted their price target on shares of Amazon.com from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Moffett Nathanson lifted their price objective on shares of Amazon.com from $250.00 to $253.00 and gave the company a “buy” rating in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $262.87.

Amazon.com Stock Performance

AMZN stock opened at $230.98 on Friday. The company has a market capitalization of $2.46 trillion, a P/E ratio of 35.21, a PEG ratio of 1.51 and a beta of 1.31. The company has a 50-day simple moving average of $221.06 and a 200 day simple moving average of $208.69. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

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

About Amazon.com

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.