Sumitomo Life Insurance Co. Has $31.71 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Sumitomo Life Insurance Co. grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 170,159 shares of the e-commerce giant’s stock after buying an additional 2,155 shares during the quarter. Amazon.com accounts for 0.6% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 10th largest position. Sumitomo Life Insurance Co.’s holdings in Amazon.com were worth $31,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sunpointe LLC increased its position in shares of Amazon.com by 2.0% during the 3rd quarter. Sunpointe LLC now owns 21,267 shares of the e-commerce giant’s stock valued at $3,963,000 after purchasing an additional 415 shares during the last quarter. Stage Harbor Financial LLC lifted its position in shares of Amazon.com by 2.9% in the third quarter. Stage Harbor Financial LLC now owns 3,564 shares of the e-commerce giant’s stock valued at $673,000 after acquiring an additional 102 shares in the last quarter. Destiny Wealth Partners LLC boosted its stake in Amazon.com by 2.5% in the 3rd quarter. Destiny Wealth Partners LLC now owns 116,939 shares of the e-commerce giant’s stock worth $21,789,000 after purchasing an additional 2,848 shares during the period. Stableford Capital II LLC grew its stake in Amazon.com by 6.3% during the third quarter. Stableford Capital II LLC now owns 50,130 shares of the e-commerce giant’s stock valued at $9,466,000 after acquiring an additional 2,962 shares in the last quarter. Finally, Safeguard Financial LLC boosted its stake in Amazon.com by 2.9% during the third quarter. Safeguard Financial LLC now owns 12,040 shares of the e-commerce giant’s stock valued at $2,243,000 after buying an additional 342 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. Telsey Advisory Group raised their price target on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group increased their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen upped their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.45.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,766 shares of Amazon.com stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the transaction, the director now owns 94,630 shares in the company, valued at $19,858,105.50. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the sale, the insider now owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,053,349 shares of company stock valued at $1,256,503,289. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Down 1.2 %

Shares of NASDAQ:AMZN opened at $211.48 on Friday. The firm has a 50 day simple moving average of $189.87 and a 200-day simple moving average of $185.36. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a twelve month low of $139.52 and a twelve month high of $215.90. The company has a market capitalization of $2.22 trillion, a PE ratio of 45.28, a P/E/G ratio of 1.40 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities analysts predict that Amazon.com, Inc. will post 5.27 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.