Sumitomo Life Insurance Co. Purchases 12,540 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Sumitomo Life Insurance Co. raised its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,699 shares of the e-commerce giant’s stock after purchasing an additional 12,540 shares during the period. Amazon.com comprises 0.8% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 13th biggest position. Sumitomo Life Insurance Co.’s holdings in Amazon.com were worth $40,082,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMZN. R Squared Ltd purchased a new position in Amazon.com during the 4th quarter valued at about $342,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Amazon.com by 3.4% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 1,916 shares of the e-commerce giant’s stock valued at $420,000 after purchasing an additional 63 shares in the last quarter. Deane Retirement Strategies Inc. boosted its stake in shares of Amazon.com by 4,528.2% during the fourth quarter. Deane Retirement Strategies Inc. now owns 15,736 shares of the e-commerce giant’s stock valued at $3,452,000 after purchasing an additional 15,396 shares in the last quarter. Foster Group Inc. increased its holdings in Amazon.com by 15.1% during the fourth quarter. Foster Group Inc. now owns 15,964 shares of the e-commerce giant’s stock valued at $3,502,000 after buying an additional 2,097 shares during the period. Finally, Fulton Breakefield Broenniman LLC raised its stake in Amazon.com by 1.1% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 278,195 shares of the e-commerce giant’s stock worth $61,033,000 after buying an additional 3,007 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley increased their target price on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Raymond James boosted their target price on shares of Amazon.com from $260.00 to $275.00 in a report on Monday, February 10th. Telsey Advisory Group restated an “outperform” rating and issued a $275.00 price target on shares of Amazon.com in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $260.74.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,611 shares of company stock valued at $11,122,402. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Down 1.0 %

Shares of NASDAQ:AMZN opened at $226.45 on Wednesday. The company has a market capitalization of $2.38 trillion, a PE ratio of 40.95, a PEG ratio of 1.36 and a beta of 1.15. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The business has a 50 day moving average of $228.26 and a two-hundred day moving average of $202.87. 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 (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. As a group, analysts forecast that Amazon.com, Inc. will post 6.24 EPS for the current year.

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.