Amazon.com, Inc. (NASDAQ:AMZN) Position Lessened by Brighton Jones LLC

Brighton Jones LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,639,084 shares of the e-commerce giant’s stock after selling 367,062 shares during the quarter. Amazon.com accounts for 25.5% of Brighton Jones LLC’s portfolio, making the stock its largest position. Brighton Jones LLC’s holdings in Amazon.com were worth $678,070,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tanager Wealth Management LLP grew its holdings in Amazon.com by 1.2% during the 3rd quarter. Tanager Wealth Management LLP now owns 20,836 shares of the e-commerce giant’s stock worth $3,882,000 after acquiring an additional 237 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after buying an additional 38,949,065 shares during the last quarter. Axecap Investments LLC acquired a new position in shares of Amazon.com in the 3rd quarter worth approximately $958,000. McAdam LLC lifted its stake in Amazon.com by 7.6% during the third quarter. McAdam LLC now owns 25,455 shares of the e-commerce giant’s stock worth $4,743,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Fulcrum Capital LLC boosted its holdings in Amazon.com by 10.7% in the third quarter. Fulcrum Capital LLC now owns 100,157 shares of the e-commerce giant’s stock worth $18,662,000 after purchasing an additional 9,677 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Sanford C. Bernstein boosted their price objective on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler raised their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Finally, UBS Group boosted their price target on shares of Amazon.com from $220.00 to $223.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Stock Up 3.2 %

Shares of NASDAQ AMZN opened at $207.86 on Wednesday. The company has a market capitalization of $2.19 trillion, a P/E ratio of 44.51, a price-to-earnings-growth ratio of 1.32 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, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90. The company’s 50 day moving average price is $193.75 and its 200-day moving average price is $186.52.

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, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on 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 owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction 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 directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,026,683 shares of company stock valued at $1,252,148,795. 10.80% of the stock is owned by company insiders.

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.