Cynosure Group LLC Sells 1,783 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cynosure Group LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,863 shares of the e-commerce giant’s stock after selling 1,783 shares during the quarter. Cynosure Group LLC’s holdings in Amazon.com were worth $3,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after buying an additional 1,980,663 shares during the last quarter. Fisher Asset Management LLC grew its position in Amazon.com by 2.0% during the third quarter. Fisher Asset Management LLC now owns 44,653,571 shares of the e-commerce giant’s stock valued at $8,320,300,000 after buying an additional 873,174 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after acquiring an additional 1,329,150 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 1.5 %

Shares of NASDAQ AMZN opened at $227.61 on Tuesday. Amazon.com, Inc. has a twelve month low of $146.15 and a twelve month high of $233.00. The firm has a market cap of $2.39 trillion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The business has a fifty day simple moving average of $213.85 and a two-hundred day simple moving average of $194.50. 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 (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 the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction on 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 owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Maxim Group lifted their target price on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm upped their target price on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial boosted their price objective on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $197.00 target price on shares of Amazon.com in a research report on Wednesday, November 20th. Two research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.67.

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.