ING Groep NV Sells 5,776 Shares of Amazon.com Inc. (AMZN)
ING Groep NV cut its position in shares of Amazon.com Inc. (NASDAQ:AMZN) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,464 shares of the e-commerce giant’s stock after selling 5,776 shares during the period. ING Groep NV’s holdings in Amazon.com were worth $23,948,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of AMZN. Glenmede Trust Co. NA increased its stake in Amazon.com by 2.4% in the first quarter. Glenmede Trust Co. NA now owns 9,728 shares of the e-commerce giant’s stock worth $5,774,000 after buying an additional 227 shares during the period. Malaga Cove Capital LLC acquired a new stake in Amazon.com during the first quarter worth about $766,000. Sii Investments Inc. WI increased its position in shares of Amazon.com by 65.4% in the first quarter. Sii Investments Inc. WI now owns 2,709 shares of the e-commerce giant’s stock worth $1,610,000 after buying an additional 1,071 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in shares of Amazon.com during the first quarter worth $363,000. Finally, Telemus Capital LLC purchased a new position in shares of Amazon.com during the first quarter worth $6,302,000. Institutional investors own 65.44% of the company’s stock.
Shares of Amazon.com Inc. (NASDAQ:AMZN) traded down 0.26% during midday trading on Friday, hitting $839.43. The stock had a trading volume of 2,426,228 shares. The stock has a market cap of $397.95 billion, a PE ratio of 208.76 and a beta of 1.20. The stock’s 50-day moving average is $789.64 and its 200-day moving average is $718.27. Amazon.com Inc. has a 12 month low of $474.00 and a 12 month high of $847.21.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.67. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The firm had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.54 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 31.1% compared to the same quarter last year. Equities analysts anticipate that Amazon.com Inc. will post $5.85 EPS for the current year.
A number of equities analysts recently weighed in on the stock. Jefferies Group restated a “buy” rating and set a $865.00 target price on shares of Amazon.com in a report on Monday, June 27th. Zacks Investment Research upgraded shares of Amazon.com from a “hold” rating to a “buy” rating and set a $774.00 target price on the stock in a report on Tuesday, June 28th. Morgan Stanley boosted their target price on shares of Amazon.com from $800.00 to $950.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank Of Canada lowered their target price on shares of Amazon.com from $1,000.00 to $840.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. Finally, William Blair assumed coverage on shares of Amazon.com in a report on Friday, June 10th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $891.31.
In related news, CEO Andrew R. Jassy sold 14,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total value of $11,200,000.00. Following the sale, the chief executive officer now directly owns 68,141 shares of the company’s stock, valued at $54,512,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 2,305 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $769.75, for a total value of $1,774,273.75. Following the completion of the sale, the chief executive officer now directly owns 84,446 shares in the company, valued at $65,002,308.50. The disclosure for this sale can be found here. Insiders own 17.70% of the company’s stock.
Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).
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