Hartford Funds Management Co LLC Raises Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Hartford Funds Management Co LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,033 shares of the e-commerce giant’s stock after purchasing an additional 394 shares during the quarter. Amazon.com comprises approximately 0.2% of Hartford Funds Management Co LLC’s portfolio, making the stock its 14th biggest holding. Hartford Funds Management Co LLC’s holdings in Amazon.com were worth $2,056,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Icon Wealth Advisors LLC lifted its holdings in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the last quarter. PayPay Securities Corp raised its position in Amazon.com by 64.6% during the second 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 bought a new stake in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com in the 3rd quarter worth about $56,000. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at $110,159,070. The trade was a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % 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 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $224.19 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm has a 50 day moving average price of $213.07 and a 200-day moving average price of $194.05. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMZN shares. Moffett Nathanson boosted their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America upped their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wolfe Research lifted their target price on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Tigress Financial upped their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.44.

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.