Amazon.com, Inc. (NASDAQ:AMZN) is Avity Investment Management Inc.’s 2nd Largest Position

Avity Investment Management Inc. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,853 shares of the e-commerce giant’s stock after selling 2,118 shares during the period. Amazon.com makes up approximately 5.0% of Avity Investment Management Inc.’s portfolio, making the stock its 2nd largest position. Avity Investment Management Inc.’s holdings in Amazon.com were worth $63,372,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rench Wealth Management Inc. increased its holdings in Amazon.com by 7.9% in the third 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 in the last quarter. Foundations Investment Advisors LLC increased its holdings in Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after buying an additional 16,392 shares in the last quarter. Blankinship & Foster LLC increased its holdings in Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after buying an additional 4,740 shares in the last quarter. Umpqua Bank increased its holdings in Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC purchased a new position in Amazon.com in the fourth quarter valued at about $4,270,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on 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 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 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 over the last quarter. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial increased their price target 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. Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JMP Securities reiterated a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a research report on Friday, January 10th. TD Cowen raised their target price on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group raised their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $249.46.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $235.50 on Tuesday. The firm’s 50 day moving average price is $220.27 and its 200-day moving average price is $197.44. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $236.40. 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 stock has a market capitalization of $2.48 trillion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS 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 company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post 5.39 EPS for the current 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.