Amazon.com, Inc. (NASDAQ:AMZN) Position Lifted by Smith Group Asset Management LLC

Smith Group Asset Management LLC raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 29.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,428 shares of the e-commerce giant’s stock after acquiring an additional 5,595 shares during the quarter. Smith Group Asset Management LLC’s holdings in Amazon.com were worth $4,552,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AMZN. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com during the third quarter worth $45,000. Christopher J. Hasenberg Inc raised its holdings in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com during the third quarter worth $56,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AMZN. Evercore ISI increased their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer increased their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Finally, Scotiabank increased their price objective on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Two research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $236.20.

Insider Activity

In other 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 value 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 ownership of the stock. The transaction 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 the company’s stock in a transaction 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 transaction, 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 have sold a total of 6,026,683 shares of company stock valued at $1,252,148,795 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $213.44 on Wednesday. The company has a 50 day simple moving average of $195.51 and a 200-day simple moving average of $187.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a market capitalization of $2.24 trillion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. Amazon.com, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm 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 company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Equities research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

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.