Alecta Tjanstepension Omsesidigt Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Alecta Tjanstepension Omsesidigt cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,675,500 shares of the e-commerce giant's stock after selling 225,000 shares during the quarter. Amazon.com accounts for 7.9% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 3rd largest position. Alecta Tjanstepension Omsesidigt owned approximately 0.07% of Amazon.com worth $1,429,946,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its holdings in Amazon.com by 31.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant's stock valued at $32,894,000 after buying an additional 43,759 shares during the last quarter. Quent Capital LLC raised its position in shares of Amazon.com by 3.3% during the 1st quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant's stock worth $6,084,000 after acquiring an additional 1,081 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in Amazon.com by 5.8% during the first quarter. Salomon & Ludwin LLC now owns 16,563 shares of the e-commerce giant's stock worth $2,988,000 after purchasing an additional 901 shares during the last quarter. Smart Money Group LLC increased its stake in Amazon.com by 28.6% in the first quarter. Smart Money Group LLC now owns 5,754 shares of the e-commerce giant's stock valued at $1,007,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Paradigm Strategies in Wealth Management LLC raised its holdings in Amazon.com by 19.9% during the first quarter. Paradigm Strategies in Wealth Management LLC now owns 3,173 shares of the e-commerce giant's stock worth $572,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company's stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,011,423 shares of company stock valued at $1,249,093,896 in the last quarter. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $236.00 price target (up from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Scotiabank lifted their price target on Amazon.com from $245.00 to $246.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. Itau BBA Securities downgraded Amazon.com from an "outperform" rating to a "market perform" rating and set a $186.00 price objective for the company. in a report on Friday, August 2nd. Rosenblatt Securities lifted their target price on shares of Amazon.com from $221.00 to $236.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.77.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $3.64 on Wednesday, reaching $200.97. 17,730,260 shares of the company's stock were exchanged, compared to its average volume of 41,455,887. The business's 50-day moving average is $192.19 and its two-hundred day moving average is $186.06. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a fifty-two week low of $141.50 and a fifty-two week high of $215.90. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 43.07, a PEG ratio of 1.36 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced 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 net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current 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.