Amazon.com, Inc. (NASDAQ:AMZN) is Avity Investment Management Inc.’s 3rd Largest Position

Avity Investment Management Inc. lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,343 shares of the e-commerce giant’s stock after selling 15,041 shares during the quarter. Amazon.com accounts for 4.6% of Avity Investment Management Inc.’s portfolio, making the stock its 3rd largest position. Avity Investment Management Inc.’s holdings in Amazon.com were worth $56,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMZN. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $17,700,551,000. Vanguard Group Inc. grew its position in Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the period. Swedbank AB purchased a new stake in Amazon.com during the first quarter valued at approximately $2,239,757,000. Capital World Investors raised its position in Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after acquiring an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent research reports. Citigroup raised their target price on Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on Amazon.com from $234.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. TD Cowen increased their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Buy” and a consensus target price of $221.69.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total value of $918,450.00. Following the transaction, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the sale, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,059,152 shares of company stock valued at $1,212,453,840. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $176.13 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The stock’s fifty day moving average is $183.91 and its 200 day moving average is $180.85. The firm has a market capitalization of $1.83 trillion, a PE ratio of 49.34, a PEG ratio of 1.32 and a beta of 1.15. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20.

Amazon.com 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.