Allworth Financial LP Sells 6,565 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Allworth Financial LP cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,762 shares of the e-commerce giant’s stock after selling 6,565 shares during the quarter. Allworth Financial LP’s holdings in Amazon.com were worth $55,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMZN. PayPay Securities Corp grew 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 purchasing an additional 64 shares during the period. Hoese & Co LLP acquired a new position in shares of Amazon.com in the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com in the 3rd quarter valued at approximately $45,000. Values First Advisors Inc. acquired a new position in shares of Amazon.com in the 3rd quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of Amazon.com by 650.0% in the 2nd 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. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMZN. TD Cowen upped their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America upped their price target on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial upped their price target on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Moffett Nathanson upped their price target on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $236.20.

Insider Transactions 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 stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through 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 stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock worth $1,252,148,795 over the last ninety days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $207.89 on Friday. The business’s 50-day moving average price is $194.78 and its 200-day moving average price is $186.94. Amazon.com, Inc. has a 12 month low of $142.81 and a 12 month high of $215.90. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14. 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 announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 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 firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the firm posted $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 forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Amazon.com Company 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.