Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,119 shares of the e-commerce giant’s stock after selling 155 shares during the quarter. Amazon.com comprises approximately 0.9% of Prestige Wealth Management Group LLC’s investment portfolio, making the stock its 24th biggest holding. Prestige Wealth Management Group LLC’s holdings in Amazon.com were worth $4,121,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brophy Wealth Management LLC acquired a new position in Amazon.com in the 3rd quarter worth approximately $3,836,000. Vestcor Inc boosted its holdings in shares of Amazon.com by 1.9% in the 3rd quarter. Vestcor Inc now owns 264,712 shares of the e-commerce giant’s stock valued at $49,324,000 after acquiring an additional 4,844 shares during the last quarter. High Falls Advisors Inc increased its stake in shares of Amazon.com by 5.4% in the third quarter. High Falls Advisors Inc now owns 4,445 shares of the e-commerce giant’s stock worth $828,000 after acquiring an additional 226 shares during the period. Conway Capital Management Inc. purchased a new position in shares of Amazon.com during the third quarter worth $24,703,000. Finally, Resources Management Corp CT ADV lifted its position in Amazon.com by 32.4% during the third quarter. Resources Management Corp CT ADV now owns 22,989 shares of the e-commerce giant’s stock valued at $4,283,000 after purchasing an additional 5,628 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $217.76 on Wednesday. The stock’s 50-day simple moving average is $217.02 and its 200-day simple moving average is $195.74. The firm has a market capitalization of $2.29 trillion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $149.91 and a fifty-two 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.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMZN shares. Loop Capital lifted their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, October 10th. Rosenblatt Securities boosted 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. Telsey Advisory Group raised their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.65.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 in 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.