Parker Investment Management LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Parker Investment Management LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,669 shares of the e-commerce giant’s stock after selling 192 shares during the quarter. Amazon.com makes up 0.1% of Parker Investment Management LLC’s investment portfolio, making the stock its 20th largest position. Parker Investment Management LLC’s holdings in Amazon.com were worth $684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMZN. Diversified LLC grew its holdings in shares of Amazon.com by 38.3% during the second quarter. Diversified LLC now owns 10,471 shares of the e-commerce giant’s stock worth $2,024,000 after buying an additional 2,899 shares in the last quarter. Secure Asset Management LLC grew its holdings in Amazon.com by 16.3% in the second quarter. Secure Asset Management LLC now owns 45,957 shares of the e-commerce giant’s stock valued at $8,881,000 after purchasing an additional 6,444 shares during the period. Spinnaker Investment Group LLC grew its holdings in Amazon.com by 34.3% in the second quarter. Spinnaker Investment Group LLC now owns 6,608 shares of the e-commerce giant’s stock valued at $1,277,000 after purchasing an additional 1,687 shares during the period. Mcrae Capital Management Inc. grew its holdings in Amazon.com by 21.1% in the second quarter. Mcrae Capital Management Inc. now owns 2,435 shares of the e-commerce giant’s stock valued at $471,000 after purchasing an additional 425 shares during the period. Finally, American Financial Advisors LLC grew its holdings in Amazon.com by 1.4% in the second quarter. American Financial Advisors LLC now owns 28,744 shares of the e-commerce giant’s stock valued at $5,555,000 after purchasing an additional 390 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ 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 company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company 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 firm has a 50-day moving average of $216.20 and a two-hundred day moving average of $195.41.

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

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’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 sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America boosted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Tigress Financial boosted their target price on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wedbush lifted their price target on shares of Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two 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 stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com 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.