Amazon.com, Inc. (NASDAQ:AMZN) is Jennison Associates LLC’s 2nd Largest Position

Jennison Associates LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 8.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,409,201 shares of the e-commerce giant’s stock after selling 4,425,406 shares during the period. Amazon.com accounts for 6.5% of Jennison Associates LLC’s investment portfolio, making the stock its 2nd biggest position. Jennison Associates LLC owned about 0.46% of Amazon.com worth $9,210,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMZN. Northern Capital Management Inc. lifted its stake in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after purchasing an additional 45 shares in the last quarter. Talisman Wealth Advisors LLC lifted its stake in shares of Amazon.com by 1.2% during the fourth quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant’s stock worth $1,020,000 after purchasing an additional 53 shares in the last quarter. SWAN Capital LLC lifted its stake in shares of Amazon.com by 3.1% during the fourth quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant’s stock worth $396,000 after purchasing an additional 55 shares in the last quarter. Lokken Investment Group LLC lifted its stake in shares of Amazon.com by 1.5% during the fourth quarter. Lokken Investment Group LLC now owns 3,866 shares of the e-commerce giant’s stock worth $848,000 after purchasing an additional 56 shares in the last quarter. Finally, CWC Advisors LLC. lifted its stake in shares of Amazon.com by 3.1% during the fourth quarter. CWC Advisors LLC. now owns 1,872 shares of the e-commerce giant’s stock worth $411,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent research reports. HSBC boosted their price objective on Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Bank of America boosted their price objective on Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Morgan Stanley restated an “overweight” rating and set a $300.00 price objective on shares of Amazon.com in a research note on Thursday. Moffett Nathanson boosted their price objective on Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Finally, Robert W. Baird boosted their price target on Amazon.com from $220.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $262.87.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on 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 represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction on 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 owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,096,253 shares of company stock valued at $5,673,745,409 in the last quarter. Insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $231.03 on Friday. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The business has a 50 day simple moving average of $221.41 and a 200 day simple moving average of $208.64. 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 issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. On average, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.