Spinnaker Trust Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Spinnaker Trust lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,945 shares of the e-commerce giant’s stock after selling 1,859 shares during the period. Amazon.com makes up approximately 0.8% of Spinnaker Trust’s investment portfolio, making the stock its 29th biggest position. Spinnaker Trust’s holdings in Amazon.com were worth $13,219,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMZN. American Capital Advisory LLC lifted its stake in shares of Amazon.com by 7.2% in the 3rd quarter. American Capital Advisory LLC now owns 8,055 shares of the e-commerce giant’s stock valued at $1,501,000 after purchasing an additional 538 shares during the last quarter. Donald L. Hagan LLC purchased a new stake in Amazon.com during the 3rd quarter valued at $666,000. CV Advisors LLC lifted its position in Amazon.com by 2.7% in the third quarter. CV Advisors LLC now owns 54,739 shares of the e-commerce giant’s stock worth $10,200,000 after buying an additional 1,417 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in Amazon.com by 5.4% during the third quarter. Consilium Wealth Advisory LLC now owns 25,466 shares of the e-commerce giant’s stock worth $4,745,000 after buying an additional 1,302 shares during the period. Finally, Gordian Advisors LLC increased its position in Amazon.com by 158.5% during the third quarter. Gordian Advisors LLC now owns 3,273 shares of the e-commerce giant’s stock valued at $610,000 after acquiring an additional 2,007 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred 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 directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last ninety days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Down 0.7 %

NASDAQ:AMZN opened at $227.46 on Friday. The company’s 50-day simple moving average is $201.65 and its 200-day simple moving average is $189.72. 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 fifty-two week low of $144.05 and a fifty-two week high of $231.20. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 48.71, a P/E/G ratio of 1.54 and a beta of 1.16.

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 anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Rosenblatt Securities raised their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Truist Financial upped their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research note on Tuesday, December 10th. Finally, Scotiabank boosted their price objective on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $238.87.

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.