Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,627,556 shares of the e-commerce giant’s stock after purchasing an additional 221,072 shares during the quarter. Amazon.com makes up approximately 3.1% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 5th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Amazon.com were worth $1,048,583,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Foundations Investment Advisors LLC lifted its stake in Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Umpqua Bank increased its position in shares of Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after purchasing an additional 137 shares during the last quarter. Washington Trust Advisors Inc. raised its holdings in Amazon.com by 0.4% during the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after buying an additional 982 shares during the period. BayBridge Capital Group LLC lifted its position in Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after buying an additional 4,905 shares during the last quarter. Finally, Zhang Financial LLC boosted its stake in Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after buying an additional 5,828 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a research note on Monday, October 7th. Evercore ISI lifted their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Telsey Advisory Group boosted their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Price Performance

Amazon.com stock opened at $222.11 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $146.15 and a 1 year high of $233.00. The stock has a market capitalization of $2.34 trillion, a P/E ratio of 47.56, a P/E/G ratio of 1.54 and a beta of 1.14. The company’s fifty day moving average price is $214.48 and its 200 day moving average price is $194.73.

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

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. 10.80% of the stock is owned by insiders.

Amazon.com Company Profile

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.