Taikang Asset Management Hong Kong Co Ltd Sells 83,491 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Taikang Asset Management Hong Kong Co Ltd cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 53.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,045 shares of the e-commerce giant's stock after selling 83,491 shares during the period. Amazon.com comprises approximately 2.3% of Taikang Asset Management Hong Kong Co Ltd's investment portfolio, making the stock its 6th biggest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in Amazon.com were worth $15,806,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMZN. Rench Wealth Management Inc. grew its position in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant's stock valued at $9,392,000 after buying an additional 3,703 shares during the period. Blankinship & Foster LLC grew its position in shares of Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant's stock valued at $1,291,000 after acquiring an additional 4,740 shares during the period. One Wealth Capital Management LLC purchased a new position in shares of Amazon.com in the 4th quarter valued at about $4,270,000. Floyd Financial Group LLC acquired a new position in Amazon.com in the 4th quarter worth about $4,494,000. Finally, Patton Albertson Miller Group LLC boosted its position in Amazon.com by 2.7% during the fourth quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant's stock worth $4,122,000 after purchasing an additional 495 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the company's stock in a transaction on 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 completion of the transaction, the vice president now owns 119,780 shares of the company's stock, valued at $26,647,456.60. This represents a 6.87 % 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 valued at $23,341,803. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Up 3.3 %

Shares of NASDAQ:AMZN opened at $186.54 on Friday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm's 50 day moving average price is $194.27 and its 200 day moving average price 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 stock 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 announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on AMZN. DA Davidson cut their price objective on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Raymond James restated an "outperform" rating and set a $195.00 price objective (down from $275.00) on shares of Amazon.com in a research report on Monday. HSBC increased their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the company a "buy" rating in a report on Monday, January 13th. Bank of America cut their target price on shares of Amazon.com from $257.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley decreased their price target on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.

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