Sumitomo Life Insurance Co. Has $32.04 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Sumitomo Life Insurance Co. decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,837 shares of the e-commerce giant’s stock after selling 734 shares during the quarter. Amazon.com makes up 1.4% of Sumitomo Life Insurance Co.’s holdings, making the stock its 6th largest holding. Sumitomo Life Insurance Co.’s holdings in Amazon.com were worth $32,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Joel Isaacson & Co. LLC grew its holdings in shares of Amazon.com by 6.3% in the 4th quarter. Joel Isaacson & Co. LLC now owns 3,231 shares of the e-commerce giant’s stock valued at $10,523,000 after acquiring an additional 191 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its holdings in shares of Amazon.com by 4.3% in the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 941 shares of the e-commerce giant’s stock valued at $2,963,000 after acquiring an additional 39 shares in the last quarter. Polar Capital LLP grew its holdings in shares of Amazon.com by 1.7% in the 3rd quarter. Polar Capital LLP now owns 128,949 shares of the e-commerce giant’s stock valued at $406,026,000 after acquiring an additional 2,199 shares in the last quarter. Castle Rock Wealth Management LLC grew its holdings in shares of Amazon.com by 15.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 1,477 shares of the e-commerce giant’s stock valued at $4,704,000 after acquiring an additional 198 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in shares of Amazon.com by 4.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 10,088 shares of the e-commerce giant’s stock valued at $31,764,000 after acquiring an additional 395 shares in the last quarter. Institutional investors own 56.39% of the company’s stock.

Shares of NASDAQ AMZN opened at $3,180.74 on Tuesday. The firm’s 50-day moving average price is $3,239.12 and its 200-day moving average price is $3,205.87. Amazon.com, Inc. has a 1-year low of $1,626.03 and a 1-year high of $3,552.25. The firm has a market capitalization of $1.60 trillion, a P/E ratio of 93.14, a P/E/G ratio of 2.37 and a beta of 1.19. The company has a current ratio of 1.11, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Monday, February 1st. The e-commerce giant reported $14.09 earnings per share for the quarter, beating the consensus estimate of $7.05 by $7.04. Amazon.com had a net margin of 4.99% and a return on equity of 24.49%. The firm had revenue of $125.56 billion for the quarter, compared to analyst estimates of $119.73 billion. During the same quarter in the prior year, the business earned $6.47 earnings per share. The business’s quarterly revenue was up 43.6% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 34.59 EPS for the current year.

A number of research firms recently commented on AMZN. Pivotal Research lifted their price target on Amazon.com from $4,500.00 to $4,650.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Stifel Nicolaus lifted their price target on Amazon.com from $3,600.00 to $4,000.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Amazon.com in a report on Wednesday, February 3rd. KeyCorp boosted their price objective on Amazon.com from $3,500.00 to $3,700.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. Finally, Truist boosted their price objective on Amazon.com from $3,650.00 to $3,750.00 in a report on Wednesday, February 3rd. Two investment analysts have rated the stock with a hold rating and forty-six have assigned a buy rating to the stock. Amazon.com has a consensus rating of “Buy” and an average target price of $3,924.51.

In related news, CEO David H. Clark sold 1,019 shares of the company’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $3,257.88, for a total value of $3,319,779.72. Following the sale, the chief executive officer now owns 1,452 shares in the company, valued at approximately $4,730,441.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey A. Wilke sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $3,200.59, for a total transaction of $6,401,180.00. Following the completion of the sale, the chief executive officer now owns 7,459 shares in the company, valued at approximately $23,873,200.81. The disclosure for this sale can be found here. Insiders sold a total of 3,673 shares of company stock worth $11,846,726 in the last 90 days. 16.10% of the stock is currently owned by company insiders.

About Amazon.com

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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