Wittenberg Investment Management Inc. Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Wittenberg Investment Management Inc. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,841 shares of the e-commerce giant’s stock after selling 900 shares during the period. Amazon.com makes up about 0.7% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 26th largest holding. Wittenberg Investment Management Inc.’s holdings in Amazon.com were worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Western Wealth Management LLC grew its holdings in shares of Amazon.com by 5.5% during the second quarter. Western Wealth Management LLC now owns 135,582 shares of the e-commerce giant’s stock valued at $26,201,000 after buying an additional 7,034 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Amazon.com in the 2nd quarter valued at approximately $292,000. MONECO Advisors LLC boosted its stake in Amazon.com by 2.9% during the 2nd quarter. MONECO Advisors LLC now owns 56,522 shares of the e-commerce giant’s stock valued at $10,923,000 after purchasing an additional 1,600 shares during the last quarter. ADE LLC increased its holdings in shares of Amazon.com by 5.3% in the 2nd quarter. ADE LLC now owns 2,293 shares of the e-commerce giant’s stock worth $443,000 after purchasing an additional 115 shares in the last quarter. Finally, Greenspring Advisors LLC raised its stake in shares of Amazon.com by 25.4% in the second quarter. Greenspring Advisors LLC now owns 4,859 shares of the e-commerce giant’s stock worth $939,000 after purchasing an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred 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 sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the 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 transaction, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 1.8 %

Amazon.com stock opened at $224.19 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm’s 50 day moving average price is $213.07 and its 200-day moving average price is $194.05. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00. The stock has a market cap of $2.36 trillion, a P/E 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 results 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 net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm posted $0.85 EPS. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMZN. JPMorgan Chase & Co. increased their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein raised their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Oppenheimer lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research increased their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Redburn Atlantic lifted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.44.

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.