Sheets Smith Wealth Management Sells 4,866 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Sheets Smith Wealth Management cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,938 shares of the e-commerce giant’s stock after selling 4,866 shares during the period. Amazon.com makes up about 2.2% of Sheets Smith Wealth Management’s holdings, making the stock its 6th largest holding. Sheets Smith Wealth Management’s holdings in Amazon.com were worth $17,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. PayPay Securities Corp increased its stake in shares of 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 acquiring an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the third quarter worth about $45,000. Values First Advisors Inc. purchased a new position in Amazon.com during the third quarter worth about $56,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Up 1.3 %

AMZN opened at $223.29 on Friday. 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 $144.05 and a one year high of $233.00. The company has a market cap of $2.35 trillion, a P/E ratio of 47.81, a PEG ratio of 1.54 and a beta of 1.16. The business’s 50-day simple moving average is $205.11 and its 200-day simple moving average is $190.98.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMZN. Evercore ISI raised their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley raised their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Loop Capital upped their price target on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Monness Crespi & Hardt raised their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Truist Financial boosted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $242.00.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872 in the last ninety days. 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.