Exchange Capital Management Inc. Trims Holdings in Amazon.com, Inc. (AMZN)

Exchange Capital Management Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,966 shares of the e-commerce giant’s stock after selling 453 shares during the quarter. Amazon.com accounts for 2.9% of Exchange Capital Management Inc.’s investment portfolio, making the stock its 5th largest position. Exchange Capital Management Inc.’s holdings in Amazon.com were worth $8,679,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Harbour Capital Advisors LLC raised its holdings in shares of Amazon.com by 100,947.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock valued at $2,379,000 after purchasing an additional 2,300,593 shares in the last quarter. State Street Corp raised its holdings in shares of Amazon.com by 1.1% in the 1st quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock valued at $14,667,392,000 after purchasing an additional 186,756 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Amazon.com in the 1st quarter valued at $157,189,000. Canada Pension Plan Investment Board raised its holdings in shares of Amazon.com by 401.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 158,030 shares of the e-commerce giant’s stock valued at $140,100,000 after purchasing an additional 126,534 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Amazon.com by 11.9% in the 1st quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock valued at $783,286,000 after purchasing an additional 93,757 shares in the last quarter. Institutional investors own 60.77% of the company’s stock.

Amazon.com, Inc. (NASDAQ:AMZN) opened at 1000.93 on Friday. The firm has a market cap of $480.83 billion, a P/E ratio of 254.56 and a beta of 1.47. Amazon.com, Inc. has a one year low of $710.10 and a one year high of $1,083.31. The firm’s 50-day moving average price is $970.06 and its 200 day moving average price is $965.51.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($1.00). Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The company had revenue of $37.96 billion for the quarter, compared to the consensus estimate of $37.18 billion. During the same quarter last year, the business earned $1.78 earnings per share. Amazon.com’s revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Amazon.com, Inc. will post $3.59 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity restated a “buy” rating and issued a $1,200.00 price objective on shares of Amazon.com in a report on Wednesday. Credit Suisse Group restated an “outperform” rating and issued a $1,350.00 price objective (up from $1,100.00) on shares of Amazon.com in a report on Wednesday. Vetr lowered shares of Amazon.com from a “strong-buy” rating to a “buy” rating and set a $1,088.80 price objective on the stock. in a report on Tuesday. Morgan Stanley restated a “buy” rating and issued a $1,150.00 price objective on shares of Amazon.com in a report on Tuesday. Finally, Loop Capital restated a “buy” rating and issued a $1,200.00 price objective on shares of Amazon.com in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, forty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $1,121.04.

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In other news, CEO Jeffrey A. Wilke sold 710 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $981.74, for a total transaction of $697,035.40. Following the completion of the transaction, the chief executive officer now directly owns 15,312 shares in the company, valued at $15,032,402.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $986.52, for a total value of $536,666.88. Following the transaction, the vice president now owns 6,533 shares of the company’s stock, valued at $6,444,935.16. The disclosure for this sale can be found here. Insiders have sold 9,083 shares of company stock valued at $8,874,850 over the last 90 days. 17.70% of the stock is owned by corporate insiders.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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