TenCore Partners LP Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

TenCore Partners LP trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,673 shares of the e-commerce giant’s stock after selling 12,820 shares during the quarter. Amazon.com makes up about 4.6% of TenCore Partners LP’s portfolio, making the stock its 8th biggest holding. TenCore Partners LP’s holdings in Amazon.com were worth $9,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares during the last quarter. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% in 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 last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com in the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMZN. Wedbush upped their price objective on shares of Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Tigress Financial upped their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. UBS Group raised their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective 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, Stifel Nicolaus increased their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Price Performance

AMZN stock opened at $218.94 on Monday. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.88, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a 50 day simple moving average of $216.20 and a 200 day simple moving average of $195.42. Amazon.com, Inc. has a 1 year low of $149.91 and a 1 year high of $233.00.

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, topping 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 during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

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.