Arcus Capital Partners LLC Sells 2,776 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Arcus Capital Partners LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 29.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,785 shares of the e-commerce giant’s stock after selling 2,776 shares during the period. Arcus Capital Partners LLC’s holdings in Amazon.com were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alterna Wealth Management Inc. grew its holdings in Amazon.com by 38.3% during the 2nd quarter. Alterna Wealth Management Inc. now owns 11,686 shares of the e-commerce giant’s stock worth $2,258,000 after acquiring an additional 3,238 shares in the last quarter. Cardinal Point Capital Management ULC lifted its position in Amazon.com by 25.9% during the second quarter. Cardinal Point Capital Management ULC now owns 3,401 shares of the e-commerce giant’s stock valued at $657,000 after acquiring an additional 699 shares during the last quarter. Compton Wealth Advisory Group LLC increased its position in Amazon.com by 3.9% during the 2nd quarter. Compton Wealth Advisory Group LLC now owns 30,881 shares of the e-commerce giant’s stock valued at $5,968,000 after buying an additional 1,161 shares in the last quarter. Diversify Advisory Services LLC grew its position in Amazon.com by 49.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 298,770 shares of the e-commerce giant’s stock worth $59,557,000 after purchasing an additional 99,084 shares during the last quarter. Finally, FSM Wealth Advisors LLC raised its stake in Amazon.com by 1.5% in the 2nd quarter. FSM Wealth Advisors LLC now owns 12,945 shares of the e-commerce giant’s stock worth $2,502,000 after acquiring an additional 190 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMZN. Robert W. Baird raised their target price on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Moffett Nathanson raised their price target on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Evercore ISI increased their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Oppenheimer lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Amazon.com Stock Up 0.7 %

Amazon.com stock opened at $224.92 on Monday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company’s 50-day moving average is $205.83 and its 200-day moving average is $191.38. 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 firm has a market capitalization of $2.37 trillion, a PE ratio of 48.16, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted $0.85 earnings per share. Sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. Insiders own 10.80% of the company’s stock.

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.