Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Towercrest Capital Management

Towercrest Capital Management reduced 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 13F filing with the SEC. The institutional investor owned 5,732 shares of the e-commerce giant’s stock after selling 100 shares during the quarter. Towercrest Capital Management’s holdings in Amazon.com were worth $1,068,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Icon Wealth Advisors LLC increased its stake in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp boosted its holdings 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 valued at $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the 3rd quarter valued at $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $224.19 on Friday. 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’s 50-day simple moving average is $212.34 and its 200 day simple moving average is $193.77. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The firm has a market capitalization of $2.36 trillion, a PE ratio of 48.01, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (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 the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen raised their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Redburn Atlantic raised their price target on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wedbush boosted their price objective on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Rosenblatt Securities upped their price target on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.44.

Insiders Place Their Bets

In related news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction 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 sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate 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.