Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by SouthState Corp

SouthState Corp boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 167,648 shares of the e-commerce giant’s stock after acquiring an additional 2,774 shares during the period. Amazon.com comprises about 2.2% of SouthState Corp’s holdings, making the stock its 7th biggest holding. SouthState Corp’s holdings in Amazon.com were worth $31,238,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in AMZN. PayPay Securities Corp raised its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $45,000. Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the third quarter worth $56,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMZN shares. Stifel Nicolaus raised their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. Piper Sandler raised their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Truist Financial raised their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated 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 owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 1.1 %

NASDAQ AMZN opened at $221.30 on Tuesday. The stock’s 50 day simple moving average is $209.73 and its 200 day simple moving average is $192.89. The firm has a market cap of $2.33 trillion, a PE ratio of 47.39, 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 $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company 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 business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Amazon.com Company 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.