Palouse Capital Management Inc. Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Palouse Capital Management Inc. decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,354 shares of the e-commerce giant’s stock after selling 223 shares during the quarter. Palouse Capital Management Inc.’s holdings in Amazon.com were worth $1,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zhang Financial LLC boosted its holdings in shares of Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the period. GAMMA Investing LLC boosted its holdings in Amazon.com by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after acquiring an additional 19,231 shares during the period. Stonekeep Investments LLC purchased a new position in Amazon.com during the 2nd quarter valued at $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Amazon.com by 164.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after purchasing an additional 654,908 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Oppenheimer boosted their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Evercore ISI boosted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company reiterated an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a research note on Wednesday. Monness Crespi & Hardt boosted their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Amazon.com from $225.00 to $232.00 and gave the company a “buy” 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.77.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,011,423 shares of company stock valued at $1,249,093,896. 10.80% of the stock is currently owned by insiders.

Amazon.com Price Performance

NASDAQ:AMZN opened at $197.12 on Friday. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market cap of $2.07 trillion, a PE ratio of 42.21, a P/E/G ratio of 1.37 and a beta of 1.14. The stock has a 50 day moving average price of $193.00 and a 200 day moving average price of $186.32.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating 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 firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

About Amazon.com

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.