Ellis Investment Partners LLC Has $2.71 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Ellis Investment Partners LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,521 shares of the e-commerce giant’s stock after selling 481 shares during the period. Ellis Investment Partners LLC’s holdings in Amazon.com were worth $2,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the period. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Swedbank AB acquired a new stake in shares of Amazon.com during the 1st quarter worth approximately $2,239,757,000. Capital World Investors increased its position in shares of Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of Amazon.com by 8.5% in the first 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. 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. Morgan Stanley lifted their price target 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. JMP Securities upped their target price on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Monness Crespi & Hardt raised their price target 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. Sanford C. Bernstein upped their price objective on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.20.

Insiders Place Their Bets

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction dated 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 $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,026,683 shares of company stock worth $1,252,148,795. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 1.0 %

NASDAQ:AMZN opened at $207.89 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12-month low of $142.81 and a 12-month high of $215.90. The stock’s fifty day simple moving average is $194.78 and its 200-day simple moving average is $186.94. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a P/E/G ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share 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.