Oppenheimer Asset Management Inc. Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Oppenheimer Asset Management Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 931,201 shares of the e-commerce giant’s stock after selling 15,651 shares during the period. Amazon.com makes up 2.1% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 3rd biggest holding. Oppenheimer Asset Management Inc.’s holdings in Amazon.com were worth $173,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the third quarter worth $45,000. Values First Advisors Inc. purchased a new stake in shares of Amazon.com during the 3rd quarter valued at $56,000. Finally, Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% during the 2nd 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 during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMZN. Jefferies Financial Group boosted their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Wedbush raised their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $197.00 target price on shares of Amazon.com in a report on Wednesday, November 20th. Evercore ISI raised their price target on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a research note on Monday, December 16th. 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, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s 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 transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at approximately $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. In the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $225.06 on Tuesday. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 48.19, a PEG ratio of 1.54 and a beta of 1.16. The company has a 50-day simple moving average of $205.83 and a 200-day simple moving average of $191.46. 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 (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company 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%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. On average, analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

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.