KBC Group NV Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

KBC Group NV trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,549,893 shares of the e-commerce giant’s stock after selling 403,881 shares during the period. Amazon.com accounts for 4.8% of KBC Group NV’s portfolio, making the stock its 3rd largest position. KBC Group NV’s holdings in Amazon.com were worth $1,593,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Huntington National Bank grew its position in shares of Amazon.com by 5.6% in the 3rd quarter. Huntington National Bank now owns 1,330,217 shares of the e-commerce giant’s stock worth $247,860,000 after buying an additional 70,383 shares during the last quarter. Summit Asset Management LLC grew its holdings in Amazon.com by 1.2% in the third quarter. Summit Asset Management LLC now owns 19,777 shares of the e-commerce giant’s stock worth $3,685,000 after purchasing an additional 225 shares during the last quarter. Bouvel Investment Partners LLC increased its position in shares of Amazon.com by 0.5% during the third quarter. Bouvel Investment Partners LLC now owns 41,481 shares of the e-commerce giant’s stock worth $7,729,000 after purchasing an additional 197 shares in the last quarter. ROI Financial Advisors LLC lifted its holdings in shares of Amazon.com by 3.6% during the 3rd quarter. ROI Financial Advisors LLC now owns 29,841 shares of the e-commerce giant’s stock valued at $5,560,000 after purchasing an additional 1,049 shares during the last quarter. Finally, Regal Partners Ltd boosted its position in shares of Amazon.com by 7.0% in the 3rd quarter. Regal Partners Ltd now owns 261,036 shares of the e-commerce giant’s stock worth $48,639,000 after purchasing an additional 17,164 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several recent analyst reports. Bank of America upped their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer increased their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Mizuho boosted their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Truist Financial upped their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark boosted their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $243.00.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,766 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the sale, the director now owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $229.05 on Wednesday. The company has a fifty day simple moving average of $206.58 and a 200-day simple moving average of $191.74. The firm has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00.

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

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.