Norges Bank Invests $27.27 Billion in Amazon.com, Inc. (NASDAQ:AMZN)

Norges Bank bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 124,283,614 shares of the e-commerce giant's stock, valued at approximately $27,266,582,000. Amazon.com comprises approximately 3.6% of Norges Bank's holdings, making the stock its 4th biggest holding. Norges Bank owned about 1.18% of Amazon.com at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cable Hill Partners LLC boosted its stake in shares of Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock worth $2,104,000 after buying an additional 44 shares during the period. Quattro Financial Advisors LLC increased its position in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares during the period. Northern Capital Management Inc. grew its holdings in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after acquiring an additional 45 shares during the period. White Wing Wealth Management increased its holdings in shares of Amazon.com by 2.4% in the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after purchasing an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC lifted its position in shares of Amazon.com by 0.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at approximately $95,776,017.26. This represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock valued at $23,341,803 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMZN shares. Piper Sandler reiterated an "overweight" rating and issued a $265.00 price objective (up from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Mizuho dropped their price objective on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Benchmark boosted their target price on Amazon.com from $215.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 target price on shares of Amazon.com in a research note on Friday, February 7th. Finally, Phillip Securities cut shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating and forty-five have given 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 1.3 %

Shares of NASDAQ:AMZN opened at $188.99 on Monday. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.00 trillion, a P/E ratio of 34.18, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a 50 day moving average of $193.52 and a 200-day moving average of $208.05.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts anticipate that Amazon.com, Inc. will post 6.31 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.

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