McCarthy Asset Management Inc. reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 43.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,480 shares of the e-commerce giant’s stock after selling 1,120 shares during the quarter. Amazon.com comprises 0.2% of McCarthy Asset Management Inc.’s investment portfolio, making the stock its 28th biggest holding. McCarthy Asset Management Inc.’s holdings in Amazon.com were worth $276,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Rench Wealth Management Inc. lifted its holdings in shares of Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares during the period. Foundations Investment Advisors LLC increased its stake in Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Umpqua Bank increased its stake in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after purchasing an additional 137 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after purchasing an additional 982 shares in the last quarter. Finally, Sassicaia Capital Advisers LLC purchased a new position in Amazon.com in the 3rd quarter valued at approximately $279,000. 72.20% of the stock is owned by institutional investors and hedge funds.
Amazon.com Stock Up 2.6 %
Shares of NASDAQ AMZN opened at $223.35 on Thursday. Amazon.com, Inc. has a 1 year low of $149.91 and a 1 year high of $233.00. The firm has a market cap of $2.35 trillion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock’s 50-day simple moving average is $217.02 and its 200-day simple moving average is $195.74.
Wall Street Analyst Weigh In
Several research firms have weighed in on AMZN. Pivotal Research began coverage on Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Robert W. Baird raised their price target on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Scotiabank raised their price target on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research report on Tuesday, December 10th. Finally, TD Cowen lifted their price objective on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.
Read Our Latest Research Report on AMZN
Insider Activity at Amazon.com
In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s 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 directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. 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 over the last three months. 10.80% of the stock is owned by insiders.
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.
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