Amazon.com, Inc. $AMZN is Principal Financial Group Inc.’s 4th Largest Position

Principal Financial Group Inc. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 19,149,017 shares of the e-commerce giant’s stock after selling 459,229 shares during the period. Amazon.com makes up approximately 2.1% of Principal Financial Group Inc.’s holdings, making the stock its 4th biggest holding. Principal Financial Group Inc.’s holdings in Amazon.com were worth $3,988,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Narwhal Capital Management grew its position in shares of Amazon.com by 2.3% during the 4th quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant’s stock worth $49,997,000 after buying an additional 4,854 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Amazon.com by 21.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant’s stock worth $5,690,463,000 after acquiring an additional 4,275,942 shares in the last quarter. Weaver Capital Management LLC boosted its holdings in Amazon.com by 13.6% in the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant’s stock worth $9,063,000 after acquiring an additional 4,713 shares in the last quarter. Ethos Financial Group LLC grew its stake in shares of Amazon.com by 9.6% during the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant’s stock worth $8,421,000 after acquiring an additional 3,196 shares during the last quarter. Finally, Culbertson A N & Co. Inc. grew its stake in shares of Amazon.com by 8.6% during the fourth quarter. Culbertson A N & Co. Inc. now owns 30,444 shares of the e-commerce giant’s stock worth $7,027,000 after acquiring an additional 2,412 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on AMZN shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and set a $280.00 target price on shares of Amazon.com in a research report on Friday, May 1st. JPMorgan Chase & Co. restated a “buy” rating on shares of Amazon.com in a research note on Friday, June 26th. Stifel Nicolaus set a $319.00 price target on shares of Amazon.com and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, William Blair reiterated an “outperform” rating on shares of Amazon.com in a research note on Thursday, April 9th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.91.

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 9,270 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total value of $2,489,273.10. Following the sale, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $7,562,500.00. Following the sale, the chief executive officer directly owned 471,361 shares in the company, valued at $129,624,275. This represents a 5.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 140,425 shares of company stock valued at $37,715,464 over the last quarter. Insiders own 8.90% of the company’s stock.

Key Stories Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $232.11 on Friday. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.50 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.46. The company’s 50 day moving average is $248.26 and its 200 day moving average is $236.32.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analysts’ expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. On average, sell-side analysts forecast that Amazon.com, Inc. will post 7.75 EPS for the current year.

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.