ING Groep NV Purchases 449,110 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

ING Groep NV lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,500,507 shares of the e-commerce giant’s stock after buying an additional 449,110 shares during the period. Amazon.com makes up about 3.8% of ING Groep NV’s investment portfolio, making the stock its 5th largest holding. ING Groep NV’s holdings in Amazon.com were worth $652,249,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after acquiring an additional 3,903,889 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Amazon.com by 20,517.4% during the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after purchasing an additional 3,865,485 shares in the last quarter. National Pension Service grew its position in Amazon.com by 15.9% in the third quarter. National Pension Service now owns 16,920,526 shares of the e-commerce giant’s stock worth $3,152,802,000 after acquiring an additional 2,321,786 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its position in Amazon.com by 6,590.8% during the second quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock worth $432,394,000 after buying an additional 2,318,713 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMZN has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial increased their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley raised their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $229.05 on Thursday. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s 50 day moving average price is $207.40 and its 200 day moving average price is $192.05.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. 10.80% of the stock is owned by insiders.

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.