New York State Teachers Retirement System Sells 383,508 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

New York State Teachers Retirement System lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,777,088 shares of the e-commerce giant’s stock after selling 383,508 shares during the period. Amazon.com makes up 3.6% of New York State Teachers Retirement System’s investment portfolio, making the stock its 4th largest position. New York State Teachers Retirement System’s holdings in Amazon.com were worth $1,696,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of Amazon.com by 291.8% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock valued at $4,406,000 after acquiring an additional 21,595 shares during the last quarter. Milestone Resources Group Ltd raised its holdings in shares of Amazon.com by 13.2% during the fourth quarter. Milestone Resources Group Ltd now owns 893,282 shares of the e-commerce giant’s stock worth $135,725,000 after purchasing an additional 104,058 shares during the last quarter. Morling Financial Advisors LLC lifted its position in Amazon.com by 2.4% during the fourth quarter. Morling Financial Advisors LLC now owns 6,878 shares of the e-commerce giant’s stock valued at $1,045,000 after purchasing an additional 160 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Amazon.com in the fourth quarter valued at $3,436,000. Finally, Atria Wealth Solutions Inc. grew its position in Amazon.com by 3.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 696,968 shares of the e-commerce giant’s stock worth $105,897,000 after purchasing an additional 20,488 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock worth $1,220,621,322 in the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $187.00 on Friday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market capitalization of $1.95 trillion, a PE ratio of 52.38, a P/E/G ratio of 1.29 and a beta of 1.14. The company has a fifty day moving average of $179.78 and a two-hundred day moving average of $181.48.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMZN. Sanford C. Bernstein upped their target price on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. JMP Securities boosted their price target on Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a report on Tuesday, September 3rd. Robert W. Baird raised their price objective on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Piper Sandler decreased their target price on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $215.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $222.49.

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.