Victory Capital Management Inc. Has $1.28 Billion Position in Amazon.com, Inc. (NASDAQ:AMZN)

Victory Capital Management Inc. cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,851,511 shares of the e-commerce giant’s stock after selling 128,700 shares during the quarter. Amazon.com makes up 1.2% of Victory Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Victory Capital Management Inc. owned about 0.07% of Amazon.com worth $1,276,642,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in AMZN. PayPay Securities Corp lifted its holdings 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 purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the third quarter worth about $45,000. Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter valued at $56,000. Finally, Christopher J. Hasenberg Inc grew its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $224.92 on Monday. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 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 company’s 50 day simple moving average is $205.83 and its 200-day simple moving average is $191.38. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business posted $0.85 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Oppenheimer raised their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Scotiabank raised their price target on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Rosenblatt Securities boosted their price target on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Pivotal Research started coverage on Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.00.

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.