Bay Rivers Group Sells 85 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Bay Rivers Group lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,967 shares of the e-commerce giant’s stock after selling 85 shares during the period. Amazon.com comprises about 2.4% of Bay Rivers Group’s holdings, making the stock its 17th largest holding. Bay Rivers Group’s holdings in Amazon.com were worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Amazon.com during the 4th quarter valued at approximately $17,700,551,000. Vanguard Group Inc. raised its position in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB bought a new position in Amazon.com during the 1st quarter valued at approximately $2,239,757,000. Capital World Investors raised its position in Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $175.40 on Tuesday. The company has a market cap of $1.84 trillion, a P/E ratio of 49.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The stock’s fifty day moving average price is $180.66 and its 200-day moving average price is $181.39.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $148.63 billion. On average, equities analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of recent analyst reports. Roth Mkm upped their price target on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial upped their price target on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Cantor Fitzgerald started coverage on Amazon.com in a research report on Thursday, September 5th. They issued an “overweight” rating and a $230.00 target price for the company. Bank of America decreased their target price on Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Maxim Group increased their target price on Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $222.49.

Insider Buying and Selling

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the sale, the insider now directly owns 930,696,284 shares in the company, valued at $186,474,307,462.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is owned by company insiders.

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.