Amazon.com, Inc. (NASDAQ:AMZN) is Magellan Asset Management Ltd’s 10th Largest Position

Magellan Asset Management Ltd trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.5% in the third quarter, HoldingsChannel.com reports. The fund owned 4,828,764 shares of the e-commerce giant’s stock after selling 507,064 shares during the period. Amazon.com makes up 3.8% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 10th largest position. Magellan Asset Management Ltd’s holdings in Amazon.com were worth $545,650,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its stake in Amazon.com by 4,540.0% during the second quarter. Iron Horse Wealth Management LLC now owns 232 shares of the e-commerce giant’s stock worth $25,000 after purchasing an additional 227 shares during the last quarter. Wells Financial Advisors INC grew its holdings in shares of Amazon.com by 1,900.0% during the 2nd quarter. Wells Financial Advisors INC now owns 280 shares of the e-commerce giant’s stock worth $30,000 after acquiring an additional 266 shares during the period. Knott David M Jr purchased a new position in shares of Amazon.com during the 2nd quarter worth approximately $32,000. Laurel Wealth Planning LLC grew its holdings in shares of Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after acquiring an additional 304 shares during the period. Finally, Baron Financial Group LLC boosted its position in shares of Amazon.com by 1,900.0% in the 2nd quarter. Baron Financial Group LLC now owns 360 shares of the e-commerce giant’s stock worth $38,000 after purchasing an additional 342 shares in the last quarter. 57.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group reduced their price objective on Amazon.com from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, January 13th. JPMorgan Chase & Co. increased their price target on shares of Amazon.com from $130.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Susquehanna raised their price objective on shares of Amazon.com from $140.00 to $150.00 and gave the stock a “positive” rating in a research note on Friday, February 3rd. Benchmark raised their price objective on shares of Amazon.com from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Finally, Robert W. Baird raised their target price on shares of Amazon.com from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.87.

Amazon.com Price Performance

Shares of AMZN opened at $92.13 on Friday. The company has a market capitalization of $944.08 billion, a price-to-earnings ratio of -343.76, a P/E/G ratio of 3.88 and a beta of 1.25. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.72. The business’s 50-day moving average is $94.73 and its 200-day moving average is $104.97.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The firm had revenue of $149.20 billion during the quarter, compared to analyst estimates of $145.72 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the completion of the sale, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Douglas J. Herrington sold 7,456 shares of Amazon.com stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $94.90, for a total value of $707,574.40. Following the completion of the sale, the chief executive officer now directly owns 564,298 shares in the company, valued at $53,551,880.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the completion of the sale, the chief executive officer now owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The disclosure for this sale can be found here. Insiders have sold a total of 67,394 shares of company stock worth $6,619,426 over the last 90 days. Insiders own 12.70% of the company’s stock.

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 segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.