Pointe Capital Management LLC Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Pointe Capital Management LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,383 shares of the e-commerce giant’s stock after selling 773 shares during the quarter. Amazon.com makes up about 1.2% of Pointe Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Pointe Capital Management LLC’s holdings in Amazon.com were worth $2,121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foundations Investment Advisors LLC grew its position in shares of Amazon.com by 9.7% during 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 purchasing an additional 16,392 shares in the last quarter. Zhang Financial LLC boosted its stake in Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after buying an additional 5,828 shares during the last quarter. BayBridge Capital Group LLC grew its holdings in Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after buying an additional 4,905 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after acquiring an additional 14,766 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Amazon.com by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after acquiring an additional 19,231 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMZN shares. DA Davidson reissued a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a report on Thursday, October 10th. Moffett Nathanson lifted their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein upped their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wedbush lifted their price target on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $236.20.

Amazon.com Stock Performance

AMZN stock opened at $207.89 on Monday. The firm has a 50-day simple moving average of $194.78 and a two-hundred day simple moving average of $186.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. On average, equities analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,026,683 shares of company stock worth $1,252,148,795 in the last ninety days. 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.