Harris Associates L P Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Harris Associates L P reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,687,279 shares of the e-commerce giant’s stock after selling 463,223 shares during the period. Harris Associates L P’s holdings in Amazon.com were worth $687,051,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the period. Parnassus Investments LLC raised its position in Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the period. Strategic Financial Concepts LLC raised its position in Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after purchasing an additional 3,903,889 shares during the period. Wulff Hansen & CO. raised its position in Amazon.com by 20,517.4% during the second quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock valued at $750,646,000 after purchasing an additional 3,865,485 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Amazon.com during the third quarter valued at approximately $492,144,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. The Goldman Sachs Group upped their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their target price on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Sanford C. Bernstein upped their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. UBS Group upped their target price on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Morgan Stanley upped their target price on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two equities 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, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com Stock Performance

Shares of AMZN opened at $218.94 on Friday. Amazon.com, Inc. has a 12 month low of $149.91 and a 12 month high of $233.00. The stock has a fifty day moving average price of $216.20 and a 200-day moving average price of $195.34. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.30 trillion, a PE ratio of 46.88, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts predict 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 4,351 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on 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 owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. Insiders own 10.80% of the company’s stock.

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.