Amazon.com, Inc. (NASDAQ:AMZN) Position Lessened by Cadence Bank

Cadence Bank decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,180 shares of the e-commerce giant’s stock after selling 5,294 shares during the quarter. Cadence Bank’s holdings in Amazon.com were worth $7,673,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMZN. Foundations Investment Advisors LLC boosted its position in Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares during the period. Umpqua Bank grew its position in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in Amazon.com by 0.4% during the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after buying an additional 982 shares during the period. BayBridge Capital Group LLC raised its holdings in Amazon.com by 51.8% during the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after purchasing an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC lifted its position in Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Telsey Advisory Group boosted their price target on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Susquehanna upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Rosenblatt Securities lifted their price target on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Maxim Group upped their target price on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Up 1.5 %

Shares of AMZN stock opened at $227.61 on Tuesday. Amazon.com, Inc. has a 12 month low of $146.15 and a 12 month 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 $2.39 trillion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The stock has a 50 day moving average of $213.85 and a 200-day moving average of $194.50.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

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.