Verity Asset Management Inc. Has $3.18 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Verity Asset Management Inc. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,070 shares of the e-commerce giant’s stock after selling 1,160 shares during the quarter. Amazon.com accounts for about 1.2% of Verity Asset Management Inc.’s portfolio, making the stock its 20th largest holding. Verity Asset Management Inc.’s holdings in Amazon.com were worth $3,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMZN. City State Bank boosted its position in Amazon.com by 1.7% in the second quarter. City State Bank now owns 15,770 shares of the e-commerce giant’s stock valued at $3,048,000 after buying an additional 270 shares in the last quarter. Monterey Private Wealth Inc. lifted its stake in shares of Amazon.com by 6.5% in the 2nd quarter. Monterey Private Wealth Inc. now owns 12,288 shares of the e-commerce giant’s stock valued at $2,375,000 after acquiring an additional 755 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of Amazon.com during the 2nd quarter valued at $2,609,000. New England Research & Management Inc. grew its position in Amazon.com by 7.4% during the 2nd quarter. New England Research & Management Inc. now owns 10,109 shares of the e-commerce giant’s stock worth $1,954,000 after acquiring an additional 696 shares during the last quarter. Finally, Marion Wealth Management increased its holdings in Amazon.com by 9.4% in the 2nd quarter. Marion Wealth Management now owns 4,911 shares of the e-commerce giant’s stock worth $949,000 after purchasing an additional 422 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent research reports. Scotiabank lifted their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research report on Tuesday, December 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Two 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’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $240.67.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872 over the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $232.93 on Tuesday. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. 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 50 day moving average price of $202.70 and a 200-day moving average price of $190.16. The company has a market cap of $2.45 trillion, a PE ratio of 49.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the business earned $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Equities analysts anticipate 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.