Oak Asset Management LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Oak Asset Management LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,205 shares of the e-commerce giant’s stock after selling 975 shares during the quarter. Oak Asset Management LLC’s holdings in Amazon.com were worth $2,460,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMZN. PayPay Securities Corp increased its position in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com during the 1st quarter worth about $69,000. Innealta Capital LLC bought a new position in Amazon.com during the 2nd quarter valued at about $77,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Amazon.com by 84.7% in the second quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock worth $84,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMZN shares. Royal Bank of Canada lifted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company lowered Amazon.com from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $225.00 to $183.00 in a report on Monday, October 7th. DA Davidson reissued a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. JMP Securities lifted their target price on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research report on Friday. Finally, Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $246.02.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,855 shares of company stock valued at $9,215,048. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $197.93 on Friday. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 42.38, a PEG ratio of 1.46 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $184.82 and a 200 day moving average of $183.76. Amazon.com, Inc. has a 12 month low of $136.47 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 4.84 earnings per share for the current year.

Amazon.com Company Profile

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.