Stonebridge Capital Management Inc. Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Stonebridge Capital Management Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,405 shares of the e-commerce giant’s stock after selling 290 shares during the period. Stonebridge Capital Management Inc.’s holdings in Amazon.com were worth $1,336,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Amazon.com by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after purchasing an additional 13,134,632 shares during the period. FMR LLC grew its stake in Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares during the period. Norges Bank purchased a new stake in Amazon.com in the fourth quarter worth $17,700,551,000. Northern Trust Corp boosted its holdings in Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock worth $11,736,905,000 after acquiring an additional 3,260,411 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Amazon.com by 2.5% in the fourth quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock worth $8,565,017,000 after acquiring an additional 1,389,503 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMZN shares. Evercore ISI boosted their target price on Amazon.com from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted their target price on Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Truist Financial boosted their target price on Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Tigress Financial boosted their target price on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Moffett Nathanson reissued a “buy” rating and issued a $228.00 target price on shares of Amazon.com in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $215.86.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 4,710 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the transaction, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at $11,602,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,548 shares of company stock valued at $12,180,239. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $197.20 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $199.84. The stock has a 50-day moving average price of $183.87 and a 200 day moving average price of $173.28. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 55.24, a P/E/G ratio of 1.38 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that Amazon.com, Inc. will post 4.72 EPS for the current fiscal 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.