Redwood Investment Management LLC Has $1.77 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Redwood Investment Management LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 72.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,512 shares of the e-commerce giant’s stock after selling 25,470 shares during the quarter. Redwood Investment Management LLC’s holdings in Amazon.com were worth $1,772,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Diversified LLC boosted its holdings in Amazon.com by 38.3% during the 2nd quarter. Diversified LLC now owns 10,471 shares of the e-commerce giant’s stock worth $2,024,000 after acquiring an additional 2,899 shares during the last quarter. Secure Asset Management LLC boosted its holdings in Amazon.com by 16.3% during the 2nd quarter. Secure Asset Management LLC now owns 45,957 shares of the e-commerce giant’s stock worth $8,881,000 after acquiring an additional 6,444 shares during the last quarter. Spinnaker Investment Group LLC boosted its holdings in Amazon.com by 34.3% during the 2nd quarter. Spinnaker Investment Group LLC now owns 6,608 shares of the e-commerce giant’s stock worth $1,277,000 after acquiring an additional 1,687 shares during the last quarter. Mcrae Capital Management Inc. boosted its holdings in Amazon.com by 21.1% during the 2nd quarter. Mcrae Capital Management Inc. now owns 2,435 shares of the e-commerce giant’s stock worth $471,000 after acquiring an additional 425 shares during the last quarter. Finally, American Financial Advisors LLC boosted its holdings in Amazon.com by 1.4% during the 2nd quarter. American Financial Advisors LLC now owns 28,744 shares of the e-commerce giant’s stock worth $5,555,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of recent analyst reports. Wedbush lifted their target price on Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Roth Mkm lifted their target price on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley lifted their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Scotiabank lifted their target price on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Two investment 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. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 company insiders.

Amazon.com Stock Down 1.4 %

Shares of AMZN opened at $218.94 on Friday. The firm has a market cap of $2.30 trillion, a P/E ratio of 46.88, a P/E/G ratio of 1.54 and a beta of 1.14. The stock has a 50 day simple moving average of $216.20 and a two-hundred day simple moving average of $195.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $149.91 and a 1 year high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data 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. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

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.