Spinnaker Investment Group LLC Sells 150 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Spinnaker Investment Group LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,458 shares of the e-commerce giant’s stock after selling 150 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Amazon.com were worth $1,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new stake in Amazon.com during the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the 3rd quarter worth approximately $45,000. Christopher J. Hasenberg Inc raised its position in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com in the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s 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 directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 1.5 %

AMZN stock opened at $223.75 on Friday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.35 trillion, a P/E ratio of 47.91, a PEG ratio of 1.54 and a beta of 1.16. The company’s 50-day simple moving average is $209.73 and its 200-day simple moving average is $192.81.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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 return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the company earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMZN shares. Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt upped their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Telsey Advisory Group raised their target price on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Oppenheimer lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities 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 company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Company 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.