Summit Global Investments Sells 28,870 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summit Global Investments lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,983 shares of the e-commerce giant's stock after selling 28,870 shares during the period. Summit Global Investments' holdings in Amazon.com were worth $11,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cable Hill Partners LLC lifted its position in Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after purchasing an additional 44 shares during the period. Quattro Financial Advisors LLC raised its holdings in 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 during the last quarter. Northern Capital Management Inc. raised its stake 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 purchasing an additional 45 shares during the period. White Wing Wealth Management increased its position in shares of Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after acquiring an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC boosted its stake in shares of Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after purchasing an additional 48 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com 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 sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 8,833 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 over the last quarter. Corporate insiders own 10.80% of the company's stock.

Amazon.com Trading Up 1.5 %

Shares of AMZN stock traded up $2.78 on Friday, hitting $189.32. The stock had a trading volume of 26,330,076 shares, compared to its average volume of 41,918,191. The firm has a market cap of $2.01 trillion, a P/E ratio of 34.30, a PEG ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a fifty day moving average price of $194.27 and a two-hundred day moving average price of $207.70. 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 released its quarterly earnings data 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, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stifel Nicolaus lowered their price objective on Amazon.com from $275.00 to $248.00 and set a "buy" rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Raymond James reiterated an "outperform" rating and issued a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a report on Monday. Truist Financial lowered their price target on Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company reduced their target price on shares of Amazon.com from $207.00 to $203.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $247.56.

Amazon.com Company 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.