Horizon Financial Services LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Horizon Financial Services LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,923 shares of the e-commerce giant’s stock after selling 270 shares during the quarter. Horizon Financial Services LLC’s holdings in Amazon.com were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its position in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Umpqua Bank lifted its position in shares of Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in Amazon.com by 0.4% in the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares in the last quarter. BayBridge Capital Group LLC raised its holdings in Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC raised its holdings in Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after acquiring an additional 5,828 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. TD Cowen raised their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird raised their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wedbush raised their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.44.

Amazon.com Trading Up 1.8 %

NASDAQ AMZN opened at $224.19 on Monday. 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 twelve month low of $144.05 and a twelve month high of $233.00. The company has a market cap of $2.36 trillion, a price-to-earnings ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The business’s fifty day moving average is $213.07 and its 200 day moving average is $194.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS 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.