Planning Capital Management Corp Sells 1,683 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Planning Capital Management Corp decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 18.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,586 shares of the e-commerce giant’s stock after selling 1,683 shares during the quarter. Planning Capital Management Corp’s holdings in Amazon.com were worth $1,414,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMZN. Jefferies Financial Group increased their target price on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Stifel Nicolaus upped their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Redburn Atlantic raised their price target on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. DA Davidson reiterated a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Finally, Scotiabank raised their target price on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.00.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $229.05 on Wednesday. The company has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. 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 52 week low of $144.05 and a 52 week high of $233.00. The company has a 50-day simple moving average of $206.58 and a 200 day simple moving average of $191.74.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. On average, sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share 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.