Port Capital LLC Sells 176 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Port Capital LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,084 shares of the e-commerce giant’s stock after selling 176 shares during the period. Port Capital LLC’s holdings in Amazon.com were worth $1,506,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AMZN. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the last quarter. PayPay Securities Corp raised its position in 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 during the last quarter. Hoese & Co LLP acquired a new stake in Amazon.com in the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the 3rd quarter valued at approximately $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com in the 3rd quarter valued at approximately $56,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN opened at $218.94 on Friday. The firm has a market cap of $2.30 trillion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $149.91 and a 52-week high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s fifty day moving average is $216.20 and its 200-day moving average is $195.41.

Amazon.com (NASDAQ:AMZN) last released its 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 company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMZN. Susquehanna lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Evercore ISI lifted their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a research report on Monday, October 7th. Loop Capital boosted their price target on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein boosted their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.67.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

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.