WT Asset Management Ltd Sells 428,855 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

WT Asset Management Ltd trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 96.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,000 shares of the e-commerce giant’s stock after selling 428,855 shares during the quarter. Amazon.com comprises 0.5% of WT Asset Management Ltd’s portfolio, making the stock its 15th biggest holding. WT Asset Management Ltd’s holdings in Amazon.com were worth $2,609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its position in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Zhang Financial LLC increased its stake in Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares in the last quarter. BayBridge Capital Group LLC raised its holdings in Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after buying an additional 4,905 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after buying an additional 14,766 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Amazon.com by 19.2% in the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after buying an additional 19,231 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

AMZN opened at $227.03 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. The business has a fifty day moving average of $197.39 and a 200 day moving average of $188.15. Amazon.com, Inc. has a 52-week low of $143.64 and a 52-week high of $227.15. The stock has a market cap of $2.39 trillion, a P/E ratio of 48.61, a PEG ratio of 1.46 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMZN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a research note on Tuesday, December 3rd. Truist Financial upped their price objective on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, 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. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,030,183 shares of company stock valued at $1,252,883,795 in the last three months. 10.80% of the stock is owned by insiders.

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.