Hexavest Inc. reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 48.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,692 shares of the e-commerce giant’s stock after selling 50,266 shares during the quarter. Amazon.com comprises about 3.4% of Hexavest Inc.’s investment portfolio, making the stock its 4th biggest position. Hexavest Inc.’s holdings in Amazon.com were worth $145,368,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMZN. Forte Capital LLC ADV purchased a new stake in shares of Amazon.com during the 2nd quarter worth about $21,334,000. Cottage Street Advisors LLC lifted its position in Amazon.com by 100.1% during the second quarter. Cottage Street Advisors LLC now owns 1,519 shares of the e-commerce giant’s stock valued at $4,191,000 after buying an additional 760 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Amazon.com by 26.3% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 846 shares of the e-commerce giant’s stock worth $2,334,000 after buying an additional 176 shares during the period. Mountain Pacific Investment Advisers Inc. ID acquired a new stake in shares of Amazon.com in the second quarter worth $229,000. Finally, Contravisory Investment Management Inc. raised its stake in shares of Amazon.com by 3,219.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,091 shares of the e-commerce giant’s stock valued at $5,469,000 after acquiring an additional 2,028 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

In related news, SVP David Zapolsky sold 352 shares of Amazon.com stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $2,300.19, for a total transaction of $809,666.88. Following the sale, the senior vice president now directly owns 4,015 shares in the company, valued at $9,235,262.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 6,945 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the completion of the sale, the chief executive officer now directly owns 93,105 shares of the company’s stock, valued at approximately $210,091,432.50. The disclosure for this sale can be found here. Insiders sold 9,497 shares of company stock worth $21,605,827 in the last 90 days. 16.10% of the stock is owned by company insiders.

Several brokerages recently issued reports on AMZN. Wedbush increased their price target on Amazon.com from $2,750.00 to $3,050.00 and gave the company an “outperform” rating in a report on Wednesday, June 24th. Needham & Company LLC assumed coverage on Amazon.com in a research note on Wednesday, June 24th. They issued a “buy” rating and a $3,200.00 target price for the company. MKM Partners boosted their price target on Amazon.com from $2,500.00 to $2,525.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Deutsche Bank upped their price target on Amazon.com from $2,750.00 to $3,333.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Piper Sandler upgraded shares of Amazon.com to a “buy” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, forty-six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $2,711.74.

AMZN stock opened at $3,182.63 on Friday. The stock’s fifty day moving average is $2,622.41 and its two-hundred day moving average is $2,181.00. The stock has a market capitalization of $1,587.43 billion, a price-to-earnings ratio of 152.06, a PEG ratio of 6.27 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.84 and a current ratio of 1.08. Amazon.com, Inc. has a 1 year low of $1,626.03 and a 1 year high of $3,193.88.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, April 30th. The e-commerce giant reported $5.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.36 by ($1.35). The firm had revenue of $75.45 billion during the quarter, compared to the consensus estimate of $74.15 billion. Amazon.com had a net margin of 3.56% and a return on equity of 17.83%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.09 earnings per share. As a group, analysts predict that Amazon.com, Inc. will post 20.08 EPS for the current fiscal year.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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