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

Bar Harbor Wealth Management trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,944 shares of the e-commerce giant’s stock after selling 1,799 shares during the quarter. Amazon.com makes up approximately 1.0% of Bar Harbor Wealth Management’s holdings, making the stock its 29th biggest position. Bar Harbor Wealth Management’s holdings in Amazon.com were worth $15,641,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMZN. TruWealth Advisors LLC boosted its position in shares of Amazon.com by 0.6% during the third quarter. TruWealth Advisors LLC now owns 184,173 shares of the e-commerce giant’s stock worth $34,317,000 after acquiring an additional 1,080 shares during the last quarter. Ellsworth Advisors LLC lifted its stake in Amazon.com by 8.5% in the 3rd quarter. Ellsworth Advisors LLC now owns 1,739 shares of the e-commerce giant’s stock worth $324,000 after purchasing an additional 136 shares in the last quarter. Drake & Associates LLC boosted its holdings in shares of Amazon.com by 22.3% during the 3rd quarter. Drake & Associates LLC now owns 6,977 shares of the e-commerce giant’s stock valued at $1,300,000 after purchasing an additional 1,273 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Amazon.com by 2.2% during the third quarter. Trust Co. of Vermont now owns 314,803 shares of the e-commerce giant’s stock valued at $58,657,000 after purchasing an additional 6,720 shares in the last quarter. Finally, Secure Asset Management LLC increased its holdings in shares of Amazon.com by 7.7% in the third quarter. Secure Asset Management LLC now owns 49,478 shares of the e-commerce giant’s stock worth $9,219,000 after purchasing an additional 3,521 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Down 4.2 %

NASDAQ:AMZN opened at $202.61 on Monday. The firm has a 50-day simple moving average of $191.16 and a 200-day simple moving average of $185.81. Amazon.com, Inc. has a one year low of $139.52 and a one year high of $215.90. The firm has a market cap of $2.13 trillion, a P/E ratio of 43.39, a P/E/G ratio of 1.36 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 issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during 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%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Equities analysts anticipate that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird increased their price target on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 target price (up from $230.00) on shares of Amazon.com in a report on Friday, November 1st. Wells Fargo & Company downgraded shares of Amazon.com from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Finally, Wedbush increased their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.45.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’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 transaction 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. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,053,349 shares of company stock worth $1,256,503,289 in the last three months. 10.80% of the stock is owned by insiders.

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.