Amazon.com, Inc. (NASDAQ:AMZN) Position Boosted by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 6.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 571,930 shares of the e-commerce giant’s stock after purchasing an additional 36,180 shares during the quarter. Amazon.com accounts for 4.9% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 4th biggest position. Nippon Life Global Investors Americas Inc.’s holdings in Amazon.com were worth $110,525,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Garrison Point Advisors LLC raised its holdings in Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after buying an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. raised its holdings in Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC raised its holdings in Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after buying an additional 56 shares during the last quarter. Stordahl Capital Management Inc. raised its holdings in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after purchasing an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its holdings in shares of Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMZN. Royal Bank of Canada reissued an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of Amazon.com in a report on Tuesday, October 15th. Piper Sandler decreased their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report 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 objective for the company. in a report on Friday, August 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $210.00 price objective on shares of Amazon.com in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock worth $9,877,423 over the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $189.70 on Wednesday. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week 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 firm has a fifty day moving average price of $182.82 and a 200 day moving average price of $183.53. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 53.14, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. As a group, sell-side analysts expect that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Amazon.com Company 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.