Amazon.com, Inc. (NASDAQ:AMZN) Rating Downgraded by Sumitomo Life Insurance Co.


Sumitomo Life Insurance Co., Ltd Company opinion Amazon.com, Inc. (NASDAQ: AMZN) and 1.5% in the first quarter, HoldingsChannel reports. The investor owned 7,008 shares of the e-commerce giant’s stock after selling 104 shares during the quarter. Amazon.com owns approximately 0.6% of Sumitomo Life Insurance Co.’s stock. Sumitomo Life Insurance Co. in Amazon.com was worth $22,846,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Amazon.com by 1.5% in the first quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant’s stock valued at $579,225,000 after buying an additional 2,686 shares during the period. Graypoint LLC lifted its holdings in Amazon.com by 57.9% in the first quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant’s stock valued at $5,555,000 after buying an additional 625 shares during the period. Castle Rock Wealth Management LLC raised its holdings in Amazon.com by 10.6% in the first quarter. Castle Rock Wealth Management LLC now owns 1,715 shares of the e-commerce giant’s stock valued at $5,422,000 after purchasing an additional 164 shares during the period. Atlas Private Wealth Advisors bought a new position in Amazon.com during the first quarter valued at approximately $6,229,000. Finally, Cherrydale Wealth Management LLC raised its holdings in Amazon.com by 156.6% in the first quarter. Cherrydale Wealth Management LLC now owns 372 shares of the e-commerce giant’s stock valued at $1,212,000 after purchasing an additional 227 shares during the period. Hedge funds and other businesses own 72.51% of the company.

Amazon.com Sales Down 1.8%

NASDAQ: AMZN opened at $122.42 on Friday. The stock’s 50-day moving average is $112.81 and its 200-day moving average is $136.51. Amazon.com, Inc. it has a 52-week low of $101.26 and a 52-week high of $188.11. The company has a market capitalization of $1.25 trillion, a P/E ratio of 59.10, a P/E/G ratio of 4.25 and a beta of 1.25. The company has a debt ratio of 0.35, a quick ratio of 0.71 and a current ratio of 0.96.

Amazon.com (NASDAQ: AMZNGet Votes) last released its quarterly earnings results on Thursday, April 28. The e-commerce giant reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 and ($0.23). The company had revenue of $116.44 billion during the quarter, compared to analyst estimates of $116.52 billion. Amazon.com had a profit margin of 21.60% with a margin of 4.48%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. On average, analysts predict that Amazon.com, Inc. will post 1.13 EPS for the fiscal year.

Internal Services

In related news, the CEO David H. Clark sold 2,270 shares of the company’s stock in a transaction on Monday, May 23rd. The products were sold at a price of $2,169.22, for a price of $4,924,129.40. Following the completion of the transaction, the chief executive officer now owns 6,695 shares in the company, valued at $14,522,927.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via SEC website. In other Amazon.com news, CEO David H. Clark sold 2,270 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at a price of $2,169.22, for a total transaction of $4,924,129.40. Following the completion of the transaction, the chief executive officer now owns 6,695 shares in the company, valued at $14,522,927.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through This hyperlink. Also, VP Shelley Reynolds sold 173 shares of the company’s stock in a transaction on Monday, May 23rd. The shares traded at an average price of $2,169.22, for a total of $375,275.06. Following the sale, the vice president now owns 5,989 shares of the company’s stock, valued at $12,991,458.58. Disclosures for these products can be found Here. Over the last three months, insiders sold 4,803 shares of company stock valued at $10,528,337. 12.70% of the stock is owned by insiders.

Researchers Set New Price Targets

AMZN has been the subject of several recent reports. TheStreet lowered shares of Amazon.com from a “b” rating to a “c+” rating in a research report on Thursday, April 28th. Redburn Partners began coverage on shares of Amazon.com in a research report on Wednesday, June 29th. They issued a “buy” rating and a $270.00 price objective on the company. Loop Capital lowered their target price on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating for the company in a research report on Friday, May 27. Telsey Advisory Group dropped their price objective on shares of Amazon.com from $170.00 to $ 145.00 and set an “outperform” rating for the company in a research report on Wednesday, July 13th. Finally, Canaccord Genuity Group dropped their target price on shares of Amazon.com from $210.00 to $187.50 in a research report on Friday, April 29th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a target price of $181.31.

Amazon.com profile

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Amazon.com, Inc. engages in retail and subscription services in North America and around the world. The company operates in three divisions: North America, International, and Amazon Web Services (AWS). It sells products and content purchased for repurchase from other retailers through physical and online stores.

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Want to see what other hedge funds are doing on AMZN? Go to HoldingsChannel.com to access the latest 13F filings and insider trading for Amazon.com, Inc.NASDAQ: AMZNGet Votes).

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



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