Renaissance Investment Group LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Renaissance Investment Group LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,860 shares of the e-commerce giant’s stock after selling 50 shares during the period. Renaissance Investment Group LLC’s holdings in Amazon.com were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Icon Wealth Advisors LLC boosted its stake in Amazon.com by 20.5% during 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 during the period. Hoese & Co LLP purchased a new position in Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com during the third quarter worth $45,000. Values First Advisors Inc. purchased a new position in Amazon.com during the third quarter worth $56,000. Finally, IFS Advisors LLC boosted its stake in Amazon.com by 1,625.0% during the fourth quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock worth $76,000 after buying an additional 325 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 6,027,340 shares of company stock valued at $1,252,456,773. 10.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Scotiabank lifted their price objective on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Susquehanna boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America boosted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.44.

Amazon.com Trading Down 0.1 %

Shares of NASDAQ:AMZN opened at $237.42 on Tuesday. The business’s 50 day moving average price is $223.83 and its 200-day moving average price is $198.98. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $241.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 50.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15.

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.