NorthRock Partners LLC Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

NorthRock Partners LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 25.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,846 shares of the e-commerce giant’s stock after selling 18,161 shares during the quarter. Amazon.com accounts for about 0.8% of NorthRock Partners LLC’s portfolio, making the stock its 19th largest holding. NorthRock Partners LLC’s holdings in Amazon.com were worth $9,660,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PayPay Securities Corp boosted its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com during the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com in the 3rd quarter worth $45,000. Christopher J. Hasenberg Inc increased its stake in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMZN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. Morgan Stanley lifted their price target on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Piper Sandler lifted their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $238.87.

Insider Activity

In other 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 value of $625,790,203.70. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares in the company, 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. Over the last ninety days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by company insiders.

Amazon.com Trading Down 0.7 %

NASDAQ AMZN opened at $227.46 on Friday. The firm has a 50 day moving average of $201.65 and a two-hundred day moving average of $189.67. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $231.20. 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 $2.39 trillion, a PE ratio of 48.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted 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. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

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.