Connective Portfolio Management LLC Sells 7,560 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Connective Portfolio Management LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 50.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,560 shares of the e-commerce giant’s stock after selling 7,560 shares during the period. Amazon.com comprises approximately 2.7% of Connective Portfolio Management LLC’s holdings, making the stock its 16th largest holding. Connective Portfolio Management LLC’s holdings in Amazon.com were worth $854,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after acquiring an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after acquiring an additional 295,880,050 shares in the last quarter. FMR LLC lifted its stake in Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after acquiring an additional 270,931,640 shares in the last quarter. Northern Trust Corp lifted its stake in Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after acquiring an additional 90,167,792 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Amazon.com by 1,944.4% in the 2nd quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after acquiring an additional 57,043,701 shares in the last quarter. Institutional investors own 57.64% of the company’s stock.

Amazon.com Trading Up 3.8 %

Shares of AMZN stock opened at $97.25 on Friday. The stock has a market cap of $992.11 billion, a price-to-earnings ratio of 89.26, a PEG ratio of 3.09 and a beta of 1.22. The stock has a 50-day moving average of $90.72 and a 200-day moving average of $110.26. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $127.10 billion during the quarter, compared to analyst estimates of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, equities research analysts forecast that Amazon.com, Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Shelley Reynolds sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $329,000.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,259,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Shelley Reynolds sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $329,000.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,259,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 7,456 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $94.00, for a total value of $700,864.00. Following the completion of the sale, the chief executive officer now directly owns 533,435 shares of the company’s stock, valued at approximately $50,142,890. The disclosure for this sale can be found here. Insiders sold 52,428 shares of company stock valued at $5,077,578 over the last 90 days. Company insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AMZN. StockNews.com started coverage on Amazon.com in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group lowered their price target on Amazon.com from $159.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Telsey Advisory Group lowered their price target on Amazon.com from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. JMP Securities lowered their price target on Amazon.com from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Finally, Rosenblatt Securities lowered their price target on Amazon.com from $118.00 to $103.00 and set a “neutral” rating on the stock in a research report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have assigned a buy rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $145.87.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North American-focused websites such as www.amazon.com and www.amazon.ca.