Mandatum Life Insurance Co Ltd Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Mandatum Life Insurance Co Ltd cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,026 shares of the e-commerce giant’s stock after selling 1,830 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Amazon.com were worth $1,527,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com in the fourth quarter worth $25,000. Prudent Man Investment Management Inc. bought a new stake in Amazon.com in the fourth quarter worth $27,000. LSV Asset Management bought a new stake in Amazon.com in the fourth quarter worth $35,000. Cooksen Wealth LLC bought a new stake in Amazon.com in the first quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Amazon.com in the first quarter worth $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on AMZN shares. Barclays boosted their target price on Amazon.com from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wall Street Zen raised Amazon.com from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Oppenheimer dropped their target price on Amazon.com from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, August 1st. Benchmark reissued a “buy” rating and issued a $260.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of Amazon.com in a report on Friday, August 1st. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $262.87.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was 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. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total value 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. The trade was 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. Company insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $231.03 on Friday. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. 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 posted its quarterly earnings data 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. 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 company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. Equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current 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.