Amazon.com, Inc. $AMZN Shares Bought by Resona Asset Management Co. Ltd.

by · The Cerbat Gem

Resona Asset Management Co. Ltd. lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.6% in the second quarter, Holdings Channel.com reports. The fund owned 3,410,401 shares of the e-commerce giant’s stock after purchasing an additional 211,862 shares during the quarter. Amazon.com accounts for approximately 3.7% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 4th largest position. Resona Asset Management Co. Ltd.’s holdings in Amazon.com were worth $750,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMZN. Carderock Capital Management Inc. bought a new stake in shares of Amazon.com in the 2nd quarter valued at approximately $27,000. Maryland Capital Advisors Inc. boosted its stake in Amazon.com by 81.9% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 95 shares in the last quarter. Ryan Investment Management Inc. bought a new stake in Amazon.com in the second quarter valued at $48,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Amazon.com during the first quarter worth $59,000. Finally, Access Investment Management LLC acquired a new position in Amazon.com during the second quarter worth $74,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 0.2%

Shares of AMZN opened at $234.42 on Wednesday. The business’s fifty day moving average price is $227.92 and its two-hundred day moving average price is $223.55. The firm has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.61 and a beta of 1.37. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $258.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 1.01.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The company had revenue of $180.17 billion during the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 earnings per share. On average, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMZN. Evercore ISI upped their target price on shares of Amazon.com from $280.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Canaccord Genuity Group set a $300.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a research note on Friday, October 31st. CIBC raised their price objective on shares of Amazon.com to $315.00 in a report on Monday, October 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $305.00 target price on shares of Amazon.com in a research note on Tuesday, November 25th. Finally, HSBC increased their price target on Amazon.com from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $296.11.

Get Our Latest Stock Analysis on Amazon.com

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $216.94, for a total value of $4,311,031.68. Following the transaction, the chief executive officer owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 22,000 shares of Amazon.com stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $250.03, for a total transaction of $5,500,660.00. Following the sale, the chief executive officer owned 493,507 shares of the company’s stock, valued at approximately $123,391,555.21. This represents a 4.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 79,734 shares of company stock worth $18,493,717. Insiders own 10.80% of the company’s stock.

Amazon.com Company Profile

(Free Report)

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.

See Also

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