IronBridge Private Wealth LLC Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

IronBridge Private Wealth LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,304 shares of the e-commerce giant’s stock after selling 702 shares during the period. Amazon.com accounts for approximately 1.8% of IronBridge Private Wealth LLC’s investment portfolio, making the stock its 18th biggest position. IronBridge Private Wealth LLC’s holdings in Amazon.com were worth $4,715,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Legal & General Group Plc grew 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 acquiring an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after acquiring an additional 1,984,592 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Amazon.com by 2.0% during the 3rd 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 acquiring an additional 873,174 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $218.94 on Friday. Amazon.com, Inc. has a twelve month low of $149.91 and a twelve month high of $233.00. The firm’s fifty day simple moving average is $216.20 and its 200-day simple moving average is $195.34. The firm has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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 firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. Equities analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on AMZN shares. Maxim Group upped their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial increased their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price target on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Susquehanna increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned 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 a consensus price target of $243.67.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 in the last ninety 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.