Addenda Capital Inc. Sells 8,449 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Addenda Capital Inc. decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.5% in the 1st quarter, Holdings Channel reports. The fund owned 46,192 shares of the e-commerce giant’s stock after selling 8,449 shares during the quarter. Addenda Capital Inc.’s holdings in Amazon.com were worth $8,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in Amazon.com by 45.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. Strid Group LLC acquired a new stake in Amazon.com in the 4th quarter valued at $43,000. Clarity Asset Management Inc. bought a new stake in Amazon.com during the 4th quarter worth about $46,000. Finally, Steph & Co. acquired a new position in shares of Amazon.com during the 1st quarter worth about $65,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMZN. JPMorgan Chase & Co. upped their target price on Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Bank of America upped their price objective on Amazon.com from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Citigroup raised their target price on shares of Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Argus upped their price target on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Telsey Advisory Group lifted their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $215.86.

Amazon.com Price Performance

AMZN stock opened at $197.59 on Thursday. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 1.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The company has a 50 day simple moving average of $184.68 and a 200 day simple moving average of $173.98. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $200.43.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts anticipate that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the transaction, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the sale, the chief executive officer now owns 519,753 shares in the company, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,548 shares of company stock worth $12,774,204. 10.80% of the stock is currently owned by insiders.

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.