Meiji Yasuda Asset Management Co Ltd. Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,319 shares of the e-commerce giant’s stock after selling 15,251 shares during the quarter. Amazon.com makes up about 1.4% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 4th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Amazon.com were worth $23,879,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bridgefront Capital LLC bought a new stake in Amazon.com during the first quarter worth $228,000. Krane Funds Advisors LLC raised its stake in shares of Amazon.com by 239.1% during the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares during the period. Range Financial Group LLC bought a new stake in shares of Amazon.com during the 1st quarter valued at $258,000. My Personal CFO LLC bought a new stake in shares of Amazon.com during the 1st quarter valued at $261,000. Finally, Worth Asset Management LLC bought a new stake in shares of Amazon.com during the 1st quarter valued at $191,000. 57.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Moffett Nathanson initiated coverage on Amazon.com in a research note on Tuesday, November 15th. They set an “outperform” rating and a $118.00 price objective on the stock. Cowen boosted their target price on Amazon.com from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, December 1st. Robert W. Baird boosted their target price on Amazon.com from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. DA Davidson boosted their target price on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Finally, The Goldman Sachs Group reduced their target price on Amazon.com from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, January 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $144.87.

Insider Activity

In other news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $102.90, for a total transaction of $411,600.00. Following the completion of the transaction, the chief executive officer now owns 529,435 shares in the company, valued at $54,478,861.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $102.90, for a total transaction of $411,600.00. Following the completion of the transaction, the chief executive officer now owns 529,435 shares in the company, valued at $54,478,861.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 23,874 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $99.15, for a total value of $2,367,107.10. Following the transaction, the chief executive officer now owns 1,964,506 shares of the company’s stock, valued at approximately $194,780,769.90. The disclosure for this sale can be found here. Insiders sold a total of 71,394 shares of company stock worth $6,994,626 over the last 90 days. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $94.88 on Wednesday. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $170.83. The stock’s fifty day moving average is $96.20 and its 200 day moving average is $101.99. The stock has a market cap of $972.26 billion, a P/E ratio of -351.41, a P/E/G ratio of 3.74 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The business had revenue of $149.20 billion for the quarter, compared to the consensus estimate of $145.72 billion. Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. Amazon.com’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. Sell-side analysts anticipate that Amazon.com, Inc. will post 1.34 earnings per share for the current year.

About Amazon.com

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.