Family Asset Management LLC Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Family Asset Management LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,824 shares of the e-commerce giant’s stock after selling 280 shares during the quarter. Family Asset Management LLC’s holdings in Amazon.com were worth $359,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Amazon.com by 1,869.1% during the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Amazon.com by 1,838.8% during the second 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 purchasing an additional 295,880,050 shares in the last quarter. FMR LLC lifted its holdings in Amazon.com by 1,792.4% during the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Amazon.com by 120,235.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock valued at $9,784,345,000 after purchasing an additional 116,383,502 shares in the last quarter. Finally, Norges Bank purchased a new position in Amazon.com during the fourth quarter valued at $8,263,591,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HSBC initiated coverage on shares of Amazon.com in a report on Thursday, November 2nd. They set a “buy” rating and a $160.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Amazon.com from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Piper Sandler increased their target price on shares of Amazon.com from $185.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Susquehanna increased their target price on shares of Amazon.com from $185.00 to $220.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. Finally, Benchmark increased their target price on shares of Amazon.com from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Buy” and an average price target of $197.95.

Get Our Latest Stock Report on Amazon.com

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 10,756 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $144.60, for a total transaction of $1,555,317.60. Following the sale, the chief executive officer now owns 117,904 shares of the company’s stock, valued at $17,048,918.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 10,756 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $144.60, for a total transaction of $1,555,317.60. Following the sale, the chief executive officer now owns 117,904 shares of the company’s stock, valued at $17,048,918.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 6,720 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $143.15, for a total transaction of $961,968.00. Following the sale, the senior vice president now directly owns 71,660 shares in the company, valued at approximately $10,258,129. The disclosure for this sale can be found here. Insiders sold 61,829 shares of company stock worth $8,885,713 over the last 90 days. 12.70% of the stock is owned by insiders.

Amazon.com Stock Up 0.8 %

Shares of Amazon.com stock opened at $170.53 on Thursday. Amazon.com, Inc. has a 52-week low of $88.12 and a 52-week high of $172.50. The company has a 50 day moving average of $153.39 and a 200 day moving average of $141.60. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.77 trillion, a P/E ratio of 58.80, a P/E/G ratio of 1.50 and a beta of 1.14.

Amazon.com (NASDAQ:AMZNGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company had revenue of $169.96 billion during the quarter, compared to the consensus estimate of $165.96 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts forecast that Amazon.com, Inc. will post 3.97 EPS for the current fiscal year.

About Amazon.com

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.

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

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