Elmwood Wealth Management Inc. Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Elmwood Wealth Management Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,947 shares of the e-commerce giant’s stock after selling 78 shares during the period. Amazon.com accounts for about 1.3% of Elmwood Wealth Management Inc.’s investment portfolio, making the stock its 26th largest position. Elmwood Wealth Management Inc.’s holdings in Amazon.com were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. PayPay Securities Corp raised its position in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter worth about $37,000. Christopher J. Hasenberg Inc lifted its stake in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Amazon.com during the 1st quarter worth about $69,000. Finally, Innealta Capital LLC acquired a new stake in Amazon.com during the 2nd quarter worth approximately $77,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

NASDAQ AMZN opened at $206.84 on Tuesday. Amazon.com, Inc. has a 1 year low of $139.52 and a 1 year high of $212.25. The business’s fifty day moving average is $187.83 and its two-hundred day moving average is $184.71. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 44.29, a P/E/G ratio of 1.40 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 (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, research analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMZN. Benchmark lifted their target price on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. DA Davidson restated a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 target price (up previously from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Wolfe Research began coverage on Amazon.com in a report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target for the company. Finally, Oppenheimer lifted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.55.

Insider Transactions at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 55,859 shares of company stock valued at $10,215,097 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com 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.