State of Michigan Retirement System Acquires 101,000 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

State of Michigan Retirement System increased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,147,820 shares of the e-commerce giant's stock after buying an additional 101,000 shares during the period. Amazon.com accounts for approximately 3.6% of State of Michigan Retirement System's holdings, making the stock its 5th biggest holding. State of Michigan Retirement System's holdings in Amazon.com were worth $690,600,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AMF Tjanstepension AB boosted its stake in Amazon.com by 44.3% in the third quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant's stock valued at $492,172,000 after acquiring an additional 811,425 shares during the last quarter. Swedbank AB increased its stake in shares of Amazon.com by 1.4% in the 3rd quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant's stock valued at $2,484,864,000 after acquiring an additional 183,610 shares during the last quarter. Sassicaia Capital Advisers LLC acquired a new stake in shares of Amazon.com in the 3rd quarter valued at approximately $279,000. Howard Capital Management Group LLC grew its holdings in Amazon.com by 0.3% during the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant's stock valued at $66,434,000 after purchasing an additional 897 shares during the period. Finally, Meridian Management Co. boosted its position in shares of Amazon.com by 27.6% during the third quarter. Meridian Management Co. now owns 33,460 shares of the e-commerce giant's stock worth $6,235,000 after purchasing an additional 7,246 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

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Insider Activity

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

Analyst Ratings Changes

Several research firms have weighed in on AMZN. DA Davidson lifted their target price on Amazon.com from $235.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Loop Capital increased their target price on Amazon.com from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Robert W. Baird upped their price target on shares of Amazon.com from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Benchmark lifted their price target on Amazon.com from $215.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Phillip Securities downgraded Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $260.53.

Amazon.com Stock Performance

NASDAQ AMZN traded up $4.26 during trading on Monday, reaching $175.26. The company's stock had a trading volume of 109,053,091 shares, compared to its average volume of 40,907,791. The firm has a 50 day moving average price of $210.97 and a 200 day moving average price of $209.12. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The firm has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18.

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 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, equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS 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.