Principal Financial Group Inc. Sells 233,236 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Principal Financial Group Inc. lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,181,744 shares of the e-commerce giant’s stock after selling 233,236 shares during the quarter. Amazon.com accounts for approximately 2.2% of Principal Financial Group Inc.’s portfolio, making the stock its 4th biggest position. Principal Financial Group Inc. owned approximately 0.18% of Amazon.com worth $3,706,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter worth $17,700,551,000. Vanguard Group Inc. raised its stake in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares in the last quarter. Swedbank AB purchased a new stake in Amazon.com during the 1st quarter worth about $2,239,757,000. Capital World Investors boosted its position in shares of Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after acquiring an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Up 0.9 %

NASDAQ:AMZN opened at $191.60 on Monday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a fifty day moving average price of $178.54 and a two-hundred day moving average price of $182.10. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 53.67, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

AMZN has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a research report on Friday, August 2nd. Finally, Piper Sandler dropped their price objective on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $222.84.

Amazon.com Profile

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.