Polymer Capital Management HK LTD Sells 106,563 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Polymer Capital Management HK LTD reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 79.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,007 shares of the e-commerce giant’s stock after selling 106,563 shares during the quarter. Amazon.com makes up approximately 1.2% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 25th biggest position. Polymer Capital Management HK LTD’s holdings in Amazon.com were worth $5,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Semus Wealth Partners LLC boosted its holdings in shares of Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the period. Bell Investment Advisors Inc boosted its holdings in shares of Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after purchasing an additional 51 shares during the period. O Connor Financial Group LLC boosted its holdings in shares of Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the period. Cherrydale Wealth Management LLC boosted its holdings in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after purchasing an additional 55 shares during the period. Finally, Cedar Point Capital Partners LLC boosted its holdings in shares of Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after purchasing an additional 56 shares during the period. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Susquehanna boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Piper Sandler boosted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Monness Crespi & Hardt boosted their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Trading Down 1.4 %

AMZN stock opened at $218.94 on Friday. The company’s 50-day simple moving average is $216.20 and its 200-day simple moving average is $195.41. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 52-week low of $149.91 and a 52-week high of $233.00. The firm has a market cap of $2.30 trillion, a P/E ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14.

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

Insider Buying and Selling

In related news, 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 completion of the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 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.

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.