Royal London Asset Management Ltd. Sells 17,914 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Royal London Asset Management Ltd. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,689,708 shares of the e-commerce giant’s stock after selling 17,914 shares during the quarter. Amazon.com comprises about 4.0% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 4th largest position. Royal London Asset Management Ltd.’s holdings in Amazon.com were worth $1,619,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rench Wealth Management Inc. raised its stake in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its stake in Amazon.com by 1.6% during the third quarter. Reynders McVeigh Capital Management LLC now owns 166,577 shares of the e-commerce giant’s stock valued at $31,038,000 after buying an additional 2,595 shares in the last quarter. Petrus Trust Company LTA raised its position in shares of Amazon.com by 29.6% during the 3rd quarter. Petrus Trust Company LTA now owns 295,937 shares of the e-commerce giant’s stock worth $55,142,000 after purchasing an additional 67,622 shares during the period. Pingora Partners LLC raised its position in shares of Amazon.com by 7.4% during the 3rd quarter. Pingora Partners LLC now owns 7,265 shares of the e-commerce giant’s stock worth $1,354,000 after purchasing an additional 500 shares during the period. Finally, Point72 Italy S.r.l. raised its position in shares of Amazon.com by 304.9% during the 3rd quarter. Point72 Italy S.r.l. now owns 50,222 shares of the e-commerce giant’s stock worth $9,358,000 after purchasing an additional 37,819 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a research report on Tuesday, December 3rd. Scotiabank increased their price objective on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Benchmark increased their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Roth Mkm increased their price target on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last three months. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $218.94 on Friday. The company’s 50 day moving average price is $216.20 and its two-hundred day moving average price is $195.41. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00. The firm has a market cap of $2.30 trillion, a PE ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.