In Depth Partners LLC Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

In Depth Partners LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,262 shares of the e-commerce giant’s stock after selling 5,860 shares during the quarter. Amazon.com makes up approximately 7.8% of In Depth Partners LLC’s holdings, making the stock its 6th biggest holding. In Depth Partners LLC’s holdings in Amazon.com were worth $7,502,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC grew its stake in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares in the last quarter. Umpqua Bank lifted its holdings 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 buying an additional 137 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Amazon.com by 0.4% during the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after buying an additional 982 shares in the last quarter. BayBridge Capital Group LLC lifted its holdings in shares of Amazon.com by 51.8% during the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after buying an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC raised its stake 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 purchasing an additional 5,828 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, 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 sale, the director now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last ninety days. 10.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMZN. Royal Bank of Canada upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Loop Capital upped their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Susquehanna upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a research report on Wednesday, November 20th. Finally, Wedbush upped their price objective on shares of Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Trading Down 1.4 %

NASDAQ AMZN opened at $218.94 on Friday. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14. The business has a fifty day simple moving average of $216.20 and a 200 day simple moving average of $195.41. Amazon.com, Inc. has a 12 month low of $149.91 and a 12 month high of $233.00. 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 released its quarterly 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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the firm posted $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts predict 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.