Central Pacific Bank Trust Division Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Central Pacific Bank Trust Division lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,092 shares of the e-commerce giant’s stock after selling 11,490 shares during the quarter. Amazon.com accounts for approximately 2.1% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 6th largest position. Central Pacific Bank Trust Division’s holdings in Amazon.com were worth $16,973,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMZN. Vanguard Group Inc. grew its stake in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Capital Research Global Investors boosted its holdings in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. Legal & General Group Plc grew its position in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after acquiring an additional 295,132 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,855 shares of company stock worth $9,215,048 in the last ninety days. 10.80% of the stock is currently owned by insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $192.73 on Thursday. The stock has a market capitalization of $2.02 trillion, a PE ratio of 46.11, a P/E/G ratio of 1.38 and a beta of 1.14. The stock has a 50-day simple moving average of $184.20 and a 200 day simple moving average of $183.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a twelve month low of $131.71 and a twelve month high of $201.20.

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

Analysts Set New Price Targets

Several brokerages have recently commented on AMZN. Stifel Nicolaus reduced their target price on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Barclays raised their target price on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company lowered shares of Amazon.com from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $225.00 to $183.00 in a report on Monday, October 7th. Bank of America decreased their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $236.76.

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.