Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Beta Wealth Group Inc.

Beta Wealth Group Inc. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,493 shares of the e-commerce giant’s stock after selling 616 shares during the period. Amazon.com makes up about 3.1% of Beta Wealth Group Inc.’s investment portfolio, making the stock its 8th largest position. Beta Wealth Group Inc.’s holdings in Amazon.com were worth $6,800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in shares of Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Amazon.com by 13,606.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after purchasing an additional 3,903,889 shares during the period. Wulff Hansen & CO. increased its stake in Amazon.com by 20,517.4% in the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after purchasing an additional 3,865,485 shares in the last quarter. National Pension Service raised its holdings in Amazon.com by 15.9% during the 3rd quarter. National Pension Service now owns 16,920,526 shares of the e-commerce giant’s stock worth $3,152,802,000 after buying an additional 2,321,786 shares during the period. Finally, Granite Bay Wealth Management LLC lifted its stake in Amazon.com by 6,590.8% during the second quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock valued at $432,394,000 after buying an additional 2,318,713 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Truist Financial boosted their target price on shares of 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 reaffirmed a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a research report on Tuesday, December 10th. Jefferies Financial Group lifted their price target on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday. Finally, Wedbush increased their price objective on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $242.00.

Insider Transactions at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $220.52 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a market cap of $2.32 trillion, a PE ratio of 47.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm has a fifty day moving average price of $204.37 and a two-hundred day moving average price of $190.75. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 for the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

About Amazon.com

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.