Patrick M Sweeney & Associates Inc. Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Patrick M Sweeney & Associates Inc. increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,836 shares of the e-commerce giant’s stock after buying an additional 681 shares during the quarter. Amazon.com accounts for about 1.6% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its 12th largest position. Patrick M Sweeney & Associates Inc.’s holdings in Amazon.com were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. PayPay Securities Corp increased 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 valued at $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in Amazon.com during the 3rd quarter valued at about $37,000. Christopher J. Hasenberg Inc increased its holdings in shares of Amazon.com by 650.0% in the second 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 during the period. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com in the first quarter valued at about $69,000. Finally, Innealta Capital LLC purchased a new position in shares of Amazon.com in the second quarter worth about $77,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,766 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the sale, the director now owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $207.86 on Wednesday. The company has a market cap of $2.19 trillion, a P/E ratio of 44.51, a P/E/G ratio of 1.32 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $142.81 and a twelve month 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. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on AMZN. Needham & Company LLC upped 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. Telsey Advisory Group upped their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Redburn Atlantic boosted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Sanford C. Bernstein upped their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two 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. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $236.20.

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.