Highland Financial Advisors LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Highland Financial Advisors LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,491 shares of the e-commerce giant’s stock after selling 400 shares during the period. Amazon.com comprises about 0.3% of Highland Financial Advisors LLC’s holdings, making the stock its 27th largest position. Highland Financial Advisors LLC’s holdings in Amazon.com were worth $837,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the period. Ameriprise Financial Inc. grew its position in Amazon.com by 3.4% during the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after acquiring an additional 1,329,150 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Amazon.com by 1.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after purchasing an additional 464,938 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent research reports. Susquehanna increased their price target on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a report on Friday, November 1st. Telsey Advisory Group raised their target price on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Pivotal Research started coverage on shares of Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.98.

Amazon.com Trading Down 0.6 %

NASDAQ:AMZN opened at $228.97 on Friday. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.03, a PEG ratio of 1.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $231.20. The business has a fifty day moving average of $199.89 and a 200-day moving average of $189.07.

Amazon.com (NASDAQ:AMZN) last announced its earnings results 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. The firm had revenue of $158.88 billion during 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%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. Equities analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $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 sold 6,034,534 shares of company stock worth $1,253,883,872 over the last three months. Corporate insiders own 10.80% of the company’s stock.

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.