JAT Capital Mgmt LP Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

JAT Capital Mgmt LP reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 85.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the e-commerce giant’s stock after selling 57,221 shares during the quarter. JAT Capital Mgmt LP’s holdings in Amazon.com were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Icon Wealth Advisors LLC lifted its stake in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp lifted its stake 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 buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the 3rd quarter valued at about $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com in the 3rd quarter valued at about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Evercore ISI increased their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. UBS Group increased their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Roth Mkm increased their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Moffett Nathanson raised their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.67.

Insider Buying and Selling at Amazon.com

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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % 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. 10.80% of the stock is owned by company insiders.

Amazon.com Price Performance

Shares of AMZN opened at $222.13 on Thursday. 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 stock has a market cap of $2.34 trillion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $148.21 and a 1-year high of $233.00. The firm has a fifty day moving average price of $215.07 and a 200 day moving average price of $194.92.

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

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.