Renaissance Technologies LLC Sells 2,775,706 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Renaissance Technologies LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 74.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 974,332 shares of the e-commerce giant’s stock after selling 2,775,706 shares during the quarter. Renaissance Technologies LLC’s holdings in Amazon.com were worth $188,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Amazon.com by 1.9% during the 1st 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 in the last quarter. Swedbank AB bought a new stake in Amazon.com in the 1st quarter valued at $2,239,757,000. Capital World Investors increased its holdings in shares of Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Amazon.com by 8.5% in 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 buying an additional 6,810,145 shares during the last quarter. Finally, Global Assets Advisory LLC increased its holdings in shares of Amazon.com by 30,350.2% in the 1st quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant’s stock worth $1,178,164,000 after buying an additional 6,510,119 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent analyst reports. Scotiabank began coverage on shares of Amazon.com in a research note on Friday, October 11th. They set a “sector outperform” rating and a $245.00 price target for the company. Evercore ISI reiterated an “outperform” rating and set a $240.00 price objective on shares of Amazon.com in a research note on Friday, October 11th. Piper Sandler lowered 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. UBS Group raised their target price on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Robert W. Baird raised their price target on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Amazon.com Trading Down 0.4 %

Shares of AMZN opened at $186.89 on Thursday. The stock has a fifty day moving average price of $181.11 and a two-hundred day moving average price of $183.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 52.35, a PEG ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 3,791 shares of the business’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 completion of the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock valued at $9,877,423 over the last three months. Company insiders own 10.80% of the company’s stock.

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.