Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Connable Office Inc.

Connable Office Inc. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,758 shares of the e-commerce giant’s stock after selling 306 shares during the quarter. Amazon.com comprises about 0.7% of Connable Office Inc.’s holdings, making the stock its 23rd biggest holding. Connable Office Inc.’s holdings in Amazon.com were worth $6,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Black Diamond Financial LLC raised its position in Amazon.com by 5.5% during the 3rd quarter. Black Diamond Financial LLC now owns 10,232 shares of the e-commerce giant’s stock worth $1,907,000 after buying an additional 537 shares during the last quarter. King Wealth Management Group raised its position in Amazon.com by 13.7% during the third quarter. King Wealth Management Group now owns 47,466 shares of the e-commerce giant’s stock worth $8,844,000 after acquiring an additional 5,713 shares during the last quarter. Dearborn Partners LLC grew its holdings in Amazon.com by 8.6% during the 3rd quarter. Dearborn Partners LLC now owns 21,807 shares of the e-commerce giant’s stock valued at $4,063,000 after buying an additional 1,725 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Amazon.com by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 2,591,961 shares of the e-commerce giant’s stock valued at $482,825,000 after purchasing an additional 153,722 shares in the last quarter. Finally, Broderick Brian C grew its stake in Amazon.com by 0.4% in the 3rd quarter. Broderick Brian C now owns 73,711 shares of the e-commerce giant’s stock worth $13,735,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred 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 owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The shares were 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 a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $229.05 on Thursday. The stock has a fifty day moving average of $207.40 and a 200 day moving average of $192.05. The firm has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. 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 (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The company 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 quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. As a group, research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMZN shares. Robert W. Baird increased their price target on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their target price on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Sanford C. Bernstein lifted their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Finally, TD Cowen upped their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Two 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. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $243.00.

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.