Pallas Capital Advisors LLC Sells 6,182 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pallas Capital Advisors LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,276 shares of the e-commerce giant’s stock after selling 6,182 shares during the quarter. Amazon.com accounts for 2.2% of Pallas Capital Advisors LLC’s holdings, making the stock its 5th biggest position. Pallas Capital Advisors LLC’s holdings in Amazon.com were worth $51,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the period. Parnassus Investments LLC grew its position in Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares during the period. State Street Corp grew its position in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the period. Geode Capital Management LLC grew its position in Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in Amazon.com by 13,606.7% during the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after buying an additional 3,903,889 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMZN. Sanford C. Bernstein lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Truist Financial lifted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wolfe Research lifted their target price on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Loop Capital lifted their target price on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued 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 target price of $247.72.

Amazon.com Stock Performance

AMZN stock opened at $235.42 on Friday. The company has a market capitalization of $2.48 trillion, a P/E ratio of 50.41, a PEG ratio of 1.29 and a beta of 1.14. 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 50-day simple moving average of $219.15 and a 200 day simple moving average of $196.95. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $235.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 5.39 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.