Castleark Management LLC Has $102.53 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Castleark Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 550,255 shares of the e-commerce giant’s stock after selling 13,342 shares during the period. Amazon.com accounts for 4.2% of Castleark Management LLC’s portfolio, making the stock its 4th largest position. Castleark Management LLC’s holdings in Amazon.com were worth $102,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the third quarter valued at approximately $45,000. Christopher J. Hasenberg Inc increased its position in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in shares of Amazon.com during the third quarter valued at approximately $56,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Truist Financial lifted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Finally, UBS Group lifted their target price on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.33.

Insider Transactions at Amazon.com

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 transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $218.46 on Tuesday. The company’s 50-day moving average price is $216.66 and its 200-day moving average price is $195.57. Amazon.com, Inc. has a twelve month low of $149.91 and a twelve month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.30 trillion, a PE ratio of 46.78, a price-to-earnings-growth 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 for the quarter, topping 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 firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

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.