State Street Corp Boosts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

State Street Corp raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 359,179,990 shares of the e-commerce giant’s stock after purchasing an additional 11,370,309 shares during the quarter. Amazon.com accounts for approximately 2.7% of State Street Corp’s holdings, making the stock its 4th biggest position. State Street Corp owned about 3.42% of Amazon.com worth $66,926,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. purchased a new position in Amazon.com during the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMZN shares. Loop Capital increased their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company reissued an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a report on Wednesday, November 20th. UBS Group boosted their price objective on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Robert W. Baird increased their target price on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities boosted their price target on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated 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 transaction, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. The trade was a 0.33 % 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 valued at $1,253,456,822 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 1.4 %

Shares of AMZN opened at $218.94 on Monday. The firm has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1-year low of $149.91 and a 1-year high of $233.00. The company has a 50-day moving average of $216.20 and a 200 day moving average of $195.42.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $157.28 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current 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.