Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 29.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,912 shares of the e-commerce giant’s stock after selling 25,711 shares during the period. Amazon.com comprises approximately 1.9% of Lake Street Private Wealth LLC’s investment portfolio, making the stock its 8th biggest position. Lake Street Private Wealth LLC’s holdings in Amazon.com were worth $11,722,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp increased its position in Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Finally, Capital International Investors lifted its stake in Amazon.com by 7.4% in the 1st quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock valued at $7,642,732,000 after purchasing an additional 2,932,192 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,026,683 shares of company stock worth $1,252,148,795 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMZN. Monness Crespi & Hardt boosted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC increased their target price on Amazon.com from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Truist Financial upped their price objective on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research report on Friday, August 2nd. Two research 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. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.77.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $201.45 on Tuesday. 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 firm’s 50-day simple moving average is $193.33 and its 200 day simple moving average is $186.38. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 43.14, a PEG ratio of 1.32 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $142.81 and a fifty-two week high of $215.90.

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, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share 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.