OVERSEA CHINESE BANKING Corp Ltd Sells 118,247 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 453,780 shares of the e-commerce giant's stock after selling 118,247 shares during the quarter. Amazon.com accounts for 2.8% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 7th biggest position. OVERSEA CHINESE BANKING Corp Ltd's holdings in Amazon.com were worth $99,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Accordant Advisory Group Inc lifted its stake in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Compass Planning Associates Inc bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $51,000. Quattro Financial Advisors LLC boosted its position in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after buying an additional 45 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Amazon.com during the fourth quarter worth approximately $54,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Amazon.com by 64.4% during the 4th 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 during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMZN. Maxim Group boosted their price target on shares of Amazon.com from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price target on Amazon.com from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Bank of America reduced their target price on Amazon.com from $257.00 to $225.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of Amazon.com in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price target on Amazon.com from $270.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $248.13.

Amazon.com Price Performance

NASDAQ AMZN traded up $11.87 on Wednesday, reaching $185.05. The company's stock had a trading volume of 19,698,765 shares, compared to its average volume of 41,749,674. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The stock has a market cap of $1.96 trillion, a PE ratio of 33.46, a PEG ratio of 1.50 and a beta of 1.39. The firm's 50 day moving average is $196.07 and its two-hundred day moving average is $207.85.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping 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, sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In related news, SVP David Zapolsky sold 5,848 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.72, for a total value of $1,290,770.56. Following the transaction, the senior vice president now directly owns 69,162 shares in the company, valued at $15,265,436.64. This represents a 7.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the 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 sale, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is owned by company insiders.

Amazon.com Profile

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.