Corebridge Financial Inc. Has $552.68 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Corebridge Financial Inc. decreased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,519,161 shares of the e-commerce giant's stock after selling 56,908 shares during the period. Amazon.com comprises 3.0% of Corebridge Financial Inc.'s portfolio, making the stock its 4th biggest position. Corebridge Financial Inc.'s holdings in Amazon.com were worth $552,679,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMZN. Accordant Advisory Group Inc grew its position in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Compass Planning Associates Inc acquired a new position in shares of Amazon.com during the 4th quarter worth about $51,000. Quattro Financial Advisors LLC grew its holdings in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $54,000. Finally, Iron Horse Wealth Management LLC grew its stake in Amazon.com by 64.4% in the fourth quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant's stock valued at $63,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMZN shares. Bank of America dropped their price objective on Amazon.com from $257.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group dropped their price target on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday. DA Davidson decreased their price objective on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Westpark Capital initiated coverage on shares of Amazon.com in a research note on Tuesday, April 1st. They set a "buy" rating and a $280.00 price objective on the stock. Finally, Truist Financial cut their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average price target of $247.56.

Amazon.com Trading Up 3.3 %

NASDAQ AMZN opened at $186.54 on Friday. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The business's fifty day moving average is $194.27 and its 200 day moving average is $207.70. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.98 trillion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares of the company's stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company's stock, valued at approximately $10,933,860. The trade was a 22.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is currently 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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.