Austin Asset Management Co Inc Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Austin Asset Management Co Inc lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,278 shares of the e-commerce giant’s stock after selling 1,551 shares during the quarter. Amazon.com makes up approximately 0.3% of Austin Asset Management Co Inc’s portfolio, making the stock its 25th biggest position. Austin Asset Management Co Inc’s holdings in Amazon.com were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in shares of Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com in the third quarter worth about $45,000. Christopher J. Hasenberg Inc increased its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter valued at approximately $56,000. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AMZN. Stifel Nicolaus boosted their target price on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Bank of America boosted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial lifted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a research note on Monday. 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. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $242.00.

Insider Buying and Selling at Amazon.com

In other news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $223.29 on Friday. 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 firm has a market capitalization of $2.35 trillion, a P/E ratio of 47.81, a PEG ratio of 1.54 and a beta of 1.16. The company has a 50-day moving average price of $205.11 and a 200-day moving average price of $190.98. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations 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 was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS. Equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Amazon.com Profile

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.