Amazon.com, Inc. (NASDAQ:AMZN) Position Increased by State of Michigan Retirement System

State of Michigan Retirement System grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,972,620 shares of the e-commerce giant’s stock after purchasing an additional 20,700 shares during the quarter. Amazon.com makes up about 2.7% of State of Michigan Retirement System’s investment portfolio, making the stock its 4th largest position. State of Michigan Retirement System’s holdings in Amazon.com were worth $451,660,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mayflower Financial Advisors LLC grew its position in Amazon.com by 0.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 194,762 shares of the e-commerce giant’s stock worth $25,000 after acquiring an additional 572 shares during the last quarter. PayPay Securities Corp grew its position in Amazon.com by 54.3% during the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 94 shares during the last quarter. Laurel Wealth Planning LLC grew its position in Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 304 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Amazon.com during the 4th quarter worth approximately $37,000. Finally, Swaine & Leidel Wealth Services LLC bought a new position in Amazon.com during the 1st quarter worth approximately $38,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

Shares of AMZN opened at $183.62 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a one year low of $101.15 and a one year high of $189.77. The firm has a market capitalization of $1.91 trillion, a P/E ratio of 63.32, a PEG ratio of 1.62 and a beta of 1.17. The business has a fifty day moving average of $176.60 and a 200 day moving average of $155.79.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company had revenue of $169.96 billion during the quarter, compared to analyst estimates of $165.96 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. Amazon.com’s revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 4.08 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMZN shares. Deutsche Bank Aktiengesellschaft raised their price target on Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Benchmark lifted their price objective on Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $200.00 price objective on shares of Amazon.com in a research report on Wednesday, March 27th. Monness Crespi & Hardt lifted their price objective on Amazon.com from $170.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Needham & Company LLC lifted their price objective on Amazon.com from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $201.43.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $152.78, for a total value of $76,390.00. Following the completion of the transaction, the chief executive officer now owns 117,560 shares in the company, valued at $17,960,816.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,214,010 shares of company stock valued at $5,505,874,846. Company insiders own 12.70% of the company’s stock.

About Amazon.com

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.