Amazon.com, Inc. $AMZN Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 15.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 669,781 shares of the e-commerce giant’s stock after selling 121,238 shares during the period. Amazon.com makes up 2.4% of J. Safra Sarasin Holding AG’s investment portfolio, making the stock its 5th largest position. J. Safra Sarasin Holding AG’s holdings in Amazon.com were worth $139,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Amazon.com by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock worth $158,348,557,000 after acquiring an additional 8,913,959 shares in the last quarter. State Street Corp boosted its stake in Amazon.com by 1.8% in the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock valued at $89,708,913,000 after acquiring an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Amazon.com by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock worth $51,753,622,000 after purchasing an additional 2,479,324 shares during the last quarter. Norges Bank acquired a new stake in shares of Amazon.com during the fourth quarter worth about $32,868,735,000. Finally, Auto Owners Insurance Co increased its position in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock worth $2,272,397,000 after purchasing an additional 98,090,585 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $232.11 on Friday. The firm’s fifty day simple moving average is $248.26 and its 200-day simple moving average is $236.32. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.50 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 earnings per share. Analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMZN. Morgan Stanley upped their target price on Amazon.com from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Guggenheim reaffirmed a “buy” rating and set a $320.00 price target (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. KeyCorp set a $335.00 price objective on Amazon.com and gave the company an “overweight” rating in a research note on Thursday, July 16th. Arete Research increased their price objective on Amazon.com from $301.00 to $310.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Susquehanna restated a “positive” rating and set a $325.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. Fifty-seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $312.91.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the sale, the chief executive officer owned 471,361 shares in the company, valued at $129,624,275. This represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares in the company, valued at approximately $598,335,650. This represents a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 140,425 shares of company stock valued at $37,715,464 in the last 90 days. 8.90% of the stock is owned by corporate insiders.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.