Conway Capital Management Inc. Invests $24.70 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Conway Capital Management Inc. purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the third quarter, Holdings Channel reports. The institutional investor purchased 132,576 shares of the e-commerce giant’s stock, valued at approximately $24,703,000. Amazon.com comprises 12.0% of Conway Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of AMZN. Rench Wealth Management Inc. lifted its holdings in shares of Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after buying an additional 16,392 shares during the period. Umpqua Bank lifted its stake in Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Amazon.com by 0.4% in the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after buying an additional 982 shares during the period. Finally, Sassicaia Capital Advisers LLC bought a new stake in shares of Amazon.com during the third quarter worth $279,000. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AMZN shares. Scotiabank boosted their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Truist Financial boosted their price target on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler increased their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley upped their price target on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.65.

Read Our Latest Research Report on AMZN

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $217.76 on Wednesday. The firm’s fifty day moving average price is $217.02 and its two-hundred day moving average price is $195.74. The stock has a market cap of $2.29 trillion, a PE ratio of 46.63, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a fifty-two week low of $149.91 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Amazon.com Company Profile

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

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

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