Cullinan Associates Inc. Has $30.50 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cullinan Associates Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 161,384 shares of the e-commerce giant’s stock after acquiring an additional 3,007 shares during the period. Amazon.com makes up about 1.7% of Cullinan Associates Inc.’s holdings, making the stock its 13th largest position. Cullinan Associates Inc.’s holdings in Amazon.com were worth $30,496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Garrison Point Advisors LLC lifted its stake in shares of Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. raised its holdings in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after acquiring an additional 55 shares during the period. O Connor Financial Group LLC lifted its position in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after acquiring an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC boosted its holdings in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after acquiring an additional 55 shares during the period. Finally, Mason & Associates Inc grew its position in shares of Amazon.com by 0.4% in the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after purchasing an additional 57 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $205.74 on Friday. 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 company has a 50 day simple moving average of $194.46 and a two-hundred day simple moving average of $186.79. Amazon.com, Inc. has a fifty-two week low of $142.81 and a fifty-two week high of $215.90. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 44.06, a P/E/G ratio of 1.35 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMZN shares. Piper Sandler raised their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JMP Securities raised their price objective on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Monness Crespi & Hardt upped their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities boosted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, DA Davidson restated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.20.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $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 is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $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 have sold a total of 6,026,683 shares of company stock worth $1,252,148,795 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

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.