Connective Portfolio Management LLC Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Connective Portfolio Management LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 77.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,480 shares of the e-commerce giant’s stock after selling 8,500 shares during the period. Connective Portfolio Management LLC’s holdings in Amazon.com were worth $459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. PayPay Securities Corp boosted its position in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Christopher J. Hasenberg Inc lifted its position 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 valued at $58,000 after buying an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com during the 1st quarter valued at about $69,000. Innealta Capital LLC purchased a new position in shares of Amazon.com during the 2nd quarter valued at about $77,000. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Amazon.com by 84.7% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after buying an additional 199 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,859 shares of company stock valued at $10,215,097. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMZN. TD Securities lifted their price objective on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Susquehanna lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Finally, 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 note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $246.48.

Amazon.com Price Performance

Shares of AMZN stock opened at $199.50 on Wednesday. Amazon.com, Inc. has a twelve month low of $138.36 and a twelve month high of $201.20. The stock has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 42.72, a P/E/G ratio of 1.46 and a beta of 1.14. The stock has a fifty day simple moving average of $185.75 and a two-hundred day simple moving average of $184.07. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts predict that Amazon.com, Inc. will post 4.98 EPS for the current fiscal 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.