BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,127,246 shares of the e-commerce giant’s stock after selling 124,610 shares during the period. Amazon.com comprises about 2.4% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 6th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Amazon.com were worth $396,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Semus Wealth Partners LLC boosted its holdings in Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after acquiring an additional 49 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in Amazon.com by 1.5% in the 3rd quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after purchasing an additional 51 shares in the last quarter. O Connor Financial Group LLC grew its position in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC increased its stake in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after purchasing an additional 55 shares in the last quarter. Finally, Cedar Point Capital Partners LLC raised its holdings in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after buying an additional 56 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,766 shares of Amazon.com stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the sale, the director now directly owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Cowen increased their price target on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of Amazon.com in a research note on Tuesday, December 10th. Benchmark boosted their price target on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Bank of America increased their price objective on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. 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 company. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com Stock Performance

AMZN opened at $222.13 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 47.57, a PEG ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $148.21 and a fifty-two week high of $233.00. The company has a fifty day moving average of $215.78 and a 200 day moving average of $195.11.

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

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.