Redmond Asset Management LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Redmond Asset Management LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,775 shares of the e-commerce giant’s stock after selling 498 shares during the quarter. Amazon.com comprises 1.5% of Redmond Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Redmond Asset Management LLC’s holdings in Amazon.com were worth $5,874,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Amazon.com by 3.3% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Amazon.com by 3.4% during the 3rd 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 purchasing an additional 6,545,944 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after purchasing an additional 1,984,592 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Amazon.com by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 47,156,540 shares of the e-commerce giant’s stock valued at $8,843,714,000 after purchasing an additional 257,072 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,298 shares of company stock worth $22,871,828 in the last quarter. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMZN. Cantor Fitzgerald reissued an “overweight” rating and set a $270.00 target price on shares of Amazon.com in a research report on Friday, February 7th. The Goldman Sachs Group boosted their target price on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup restated a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Finally, Loop Capital boosted their price objective on Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $196.21 on Monday. The firm has a 50 day moving average of $218.90 and a 200-day moving average of $208.44. The stock has a market capitalization of $2.08 trillion, a PE ratio of 35.48, a PEG ratio of 1.50 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS 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.