Principal Financial Group Inc. Sells 233,236 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Principal Financial Group Inc. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,181,744 shares of the e-commerce giant’s stock after selling 233,236 shares during the quarter. Amazon.com makes up approximately 2.2% of Principal Financial Group Inc.’s holdings, making the stock its 4th largest holding. Principal Financial Group Inc.’s holdings in Amazon.com were worth $3,706,872,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at $30,000. Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the period. Clarity Asset Management Inc. acquired a new stake in Amazon.com in the 4th quarter worth about $46,000. Steph & Co. purchased a new stake in Amazon.com in the 1st quarter valued at about $65,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com during the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMZN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Barclays boosted their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. UBS Group upped their price objective on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Benchmark reiterated a “buy” rating and issued a $200.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Finally, Piper Sandler dropped their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $222.84.

Amazon.com Trading Up 0.9 %

NASDAQ AMZN opened at $191.60 on Monday. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The company’s fifty day moving average price is $178.54 and its two-hundred day moving average price is $182.10.

Amazon.com (NASDAQ:AMZN) last issued 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. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction dated 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 approximately $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the transaction, the chief executive officer now owns 519,753 shares in the company, valued at approximately $101,866,390.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, 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 over the last 90 days. Insiders own 10.80% of the company’s stock.

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.