Lord Abbett & CO. LLC Sells 693,569 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Lord Abbett & CO. LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 32.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,450,042 shares of the e-commerce giant’s stock after selling 693,569 shares during the quarter. Amazon.com comprises about 0.8% of Lord Abbett & CO. LLC’s portfolio, making the stock its 19th biggest position. Lord Abbett & CO. LLC’s holdings in Amazon.com were worth $270,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares in the last quarter. State Street Corp grew its position in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after buying an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after acquiring an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in shares of Amazon.com by 13,606.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after acquiring an additional 3,903,889 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the 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 represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Amazon.com Stock Up 2.4 %

AMZN opened at $225.94 on Friday. The company has a market cap of $2.38 trillion, a PE ratio of 48.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $233.00. The company has a 50-day moving average price of $217.56 and a 200 day moving average price of $196.10. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts expect that Amazon.com, Inc. will post 5.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on AMZN. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Moffett Nathanson boosted their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus increased their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Monness Crespi & Hardt boosted their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.65.

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.