Allspring Global Investments Holdings LLC Sells 504,911 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,220,128 shares of the e-commerce giant’s stock after selling 504,911 shares during the quarter. Amazon.com accounts for approximately 1.5% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 4th largest position. Allspring Global Investments Holdings LLC owned 0.05% of Amazon.com worth $972,667,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Compass Ion Advisors LLC boosted its position in Amazon.com by 4.1% during the 3rd quarter. Compass Ion Advisors LLC now owns 25,689 shares of the e-commerce giant’s stock worth $4,787,000 after buying an additional 1,002 shares during the period. Vest Financial LLC raised its stake in shares of Amazon.com by 187.0% during the third quarter. Vest Financial LLC now owns 38,542 shares of the e-commerce giant’s stock valued at $7,182,000 after acquiring an additional 25,114 shares during the last quarter. Lee Johnson Capital Management LLC lifted its holdings in shares of Amazon.com by 1,154.4% during the third quarter. Lee Johnson Capital Management LLC now owns 23,646 shares of the e-commerce giant’s stock worth $4,406,000 after purchasing an additional 21,761 shares during the period. Buckley Wealth Management LLC grew its stake in shares of Amazon.com by 0.6% in the third quarter. Buckley Wealth Management LLC now owns 77,893 shares of the e-commerce giant’s stock worth $14,514,000 after purchasing an additional 442 shares during the last quarter. Finally, Stegent Equity Advisors Inc. increased its holdings in Amazon.com by 36.9% in the third quarter. Stegent Equity Advisors Inc. now owns 2,312 shares of the e-commerce giant’s stock valued at $431,000 after purchasing an additional 623 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 2.1 %

Amazon.com stock opened at $198.70 on Friday. 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 capitalization of $2.09 trillion, a P/E ratio of 42.55, a P/E/G ratio of 1.37 and a beta of 1.14. The firm has a 50 day moving average price of $192.79 and a 200-day moving average price of $186.26. Amazon.com, Inc. has a twelve month low of $142.81 and a twelve month high of $215.90.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Amazon.com, Inc. will post 5.27 EPS for the current year.

Analyst Ratings Changes

AMZN has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JMP Securities boosted their price target on shares of Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Susquehanna increased their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. The Goldman Sachs Group increased their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.77.

Insider Activity at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the 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 sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction on 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 transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. Company insiders own 10.80% of the company’s stock.

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.