AustralianSuper Pty Ltd Lowers Position in Amazon.com, Inc. $AMZN

AustralianSuper Pty Ltd trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,211,221 shares of the e-commerce giant’s stock after selling 1,821,299 shares during the period. Amazon.com comprises approximately 6.7% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 2nd largest holding. AustralianSuper Pty Ltd owned 0.06% of Amazon.com worth $1,181,747,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMZN. Stordahl Capital Management Inc. raised its stake in Amazon.com by 3.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 3,054 shares of the e-commerce giant’s stock valued at $581,000 after acquiring an additional 93 shares during the period. Conservest Capital Advisors Inc. increased its position in shares of Amazon.com by 1.1% during the first quarter. Conservest Capital Advisors Inc. now owns 6,725 shares of the e-commerce giant’s stock valued at $1,279,000 after buying an additional 74 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of Amazon.com by 5.1% during the first quarter. Kestra Private Wealth Services LLC now owns 723,643 shares of the e-commerce giant’s stock valued at $137,680,000 after buying an additional 35,179 shares during the period. Fountainhead AM LLC increased its position in shares of Amazon.com by 47.2% during the first quarter. Fountainhead AM LLC now owns 25,571 shares of the e-commerce giant’s stock valued at $4,865,000 after buying an additional 8,198 shares during the period. Finally, Savoir Faire Capital Management L.P. increased its position in shares of Amazon.com by 109.2% during the first quarter. Savoir Faire Capital Management L.P. now owns 30,421 shares of the e-commerce giant’s stock valued at $5,788,000 after buying an additional 15,881 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI reissued an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a report on Wednesday, August 13th. Oppenheimer cut their price objective on Amazon.com from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, August 1st. Scotiabank boosted their price objective on Amazon.com from $250.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Amazon.com from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Cantor Fitzgerald upped their target price on Amazon.com from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $262.87.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $231.03 on Monday. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The business has a fifty day moving average price of $221.41 and a 200-day moving average price of $208.26. The company has a market capitalization of $2.46 trillion, a PE ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data 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 return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same period last year, the company earned $1.26 EPS. Amazon.com’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated 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 directly owned 512,050 shares in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction dated 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 completion of the sale, the insider owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,096,253 shares of company stock valued at $5,673,745,409 over the last quarter. 10.80% of the stock is owned by corporate insiders.

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.