Amazon.com, Inc. (NASDAQ:AMZN) Position Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 19,043,336 shares of the e-commerce giant’s stock after buying an additional 533,975 shares during the quarter. Amazon.com comprises approximately 3.1% of The Manufacturers Life Insurance Company’s holdings, making the stock its 3rd biggest position. The Manufacturers Life Insurance Company’s holdings in Amazon.com were worth $3,548,370,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMZN. Foundations Investment Advisors LLC lifted its position in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares in the last quarter. Umpqua Bank lifted its position in shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares in the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Amazon.com by 0.4% in the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares in the last quarter. BayBridge Capital Group LLC lifted its position in shares of Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC lifted its position in shares of Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after acquiring an additional 5,828 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMZN. Maxim Group raised their price target on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Tuesday, December 10th. Truist Financial raised their price target on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, UBS Group raised their price target on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $243.44.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $224.19 on Monday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The business has a 50 day moving average price of $213.07 and a two-hundred day moving average price of $194.21. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.36 trillion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the firm earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred 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 transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred 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 owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. 10.80% of the stock is owned by corporate 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.