Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Cut by Family Asset Management LLC

Family Asset Management LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,956 shares of the e-commerce giant’s stock after selling 144 shares during the quarter. Family Asset Management LLC’s holdings in Amazon.com were worth $923,000 as of its most recent filing with the Securities and Exchange Commission.

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

Amazon.com Stock Performance

Shares of AMZN opened at $227.46 on Friday. The company has a market capitalization of $2.39 trillion, a PE ratio of 48.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $231.20. The company’s fifty day moving average price is $201.65 and its 200 day moving average price is $189.72.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 in the last three months. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMZN. Royal Bank of Canada increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research note on Monday, October 7th. The Goldman Sachs Group boosted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Maxim Group boosted their price objective on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.87.

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.