Nippon Life Global Investors Americas Inc. Buys 432,330 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Nippon Life Global Investors Americas Inc. lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,814.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 456,160 shares of the e-commerce giant’s stock after acquiring an additional 432,330 shares during the period. Amazon.com makes up about 3.1% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 5th biggest position. Nippon Life Global Investors Americas Inc.’s holdings in Amazon.com were worth $48,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Sage Financial Management Group Inc. grew its position in shares of Amazon.com by 6.5% during the 1st quarter. Sage Financial Management Group Inc. now owns 66 shares of the e-commerce giant’s stock worth $215,000 after buying an additional 4 shares during the period. BlackDiamond Wealth Management Inc. grew its position in shares of Amazon.com by 1.9% during the 1st quarter. BlackDiamond Wealth Management Inc. now owns 217 shares of the e-commerce giant’s stock worth $707,000 after buying an additional 4 shares during the period. BCGM Wealth Management LLC grew its position in shares of Amazon.com by 3.0% during the 1st quarter. BCGM Wealth Management LLC now owns 172 shares of the e-commerce giant’s stock worth $428,000 after buying an additional 5 shares during the period. Aspire Wealth Management Corp grew its position in shares of Amazon.com by 2.4% during the 1st quarter. Aspire Wealth Management Corp now owns 216 shares of the e-commerce giant’s stock worth $704,000 after buying an additional 5 shares during the period. Finally, Lakeside Advisors INC. grew its position in shares of Amazon.com by 7.5% during the 1st quarter. Lakeside Advisors INC. now owns 72 shares of the e-commerce giant’s stock worth $235,000 after buying an additional 5 shares during the period. 57.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Amazon.com from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Credit Suisse Group lowered their price target on shares of Amazon.com from $159.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Benchmark decreased their price objective on shares of Amazon.com from $160.00 to $125.00 and set a “buy” rating for the company in a report on Friday, October 28th. JMP Securities decreased their price objective on shares of Amazon.com from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Amazon.com from $200.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.89.

Amazon.com Price Performance

NASDAQ:AMZN opened at $94.14 on Friday. Amazon.com, Inc. has a one year low of $85.87 and a one year high of $188.11. The company has a market cap of $960.38 billion, a P/E ratio of 86.41, a P/E/G ratio of 7.71 and a beta of 1.23. The firm’s fifty day moving average price is $110.68 and its two-hundred day moving average price is $117.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68.

Amazon.com (NASDAQ:AMZNGet Rating) last released its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.28 EPS for the quarter, beating the consensus estimate of $0.22 by $0.06. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The firm had revenue of $127.10 billion for the quarter, compared to the consensus estimate of $127.47 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts expect that Amazon.com, Inc. will post 0.62 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,720 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $95.70, for a total value of $164,604.00. Following the transaction, the director now directly owns 22,440 shares in the company, valued at $2,147,508. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel P. Huttenlocher sold 1,720 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $95.70, for a total value of $164,604.00. Following the transaction, the director now directly owns 22,440 shares in the company, valued at $2,147,508. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 7,448 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $134.25, for a total transaction of $999,894.00. Following the sale, the chief executive officer now owns 498,572 shares in the company, valued at $66,933,291. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,420 shares of company stock worth $12,769,879. Corporate insiders own 12.70% of the company’s stock.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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