Centre Asset Management LLC Sells 7,016 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Centre Asset Management LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,803 shares of the e-commerce giant’s stock after selling 7,016 shares during the period. Amazon.com accounts for approximately 4.0% of Centre Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Centre Asset Management LLC’s holdings in Amazon.com were worth $17,508,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Icon Wealth Advisors LLC grew its position in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp boosted its stake 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 period. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the third quarter worth approximately $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter worth $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $225.94 on Friday. The business has a 50-day moving average price of $217.91 and a two-hundred day moving average price of $196.30. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $233.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.38 trillion, a P/E ratio of 48.38, a PEG ratio of 1.22 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, analysts anticipate that Amazon.com, Inc. will post 5.38 EPS for the current year.

Analyst Ratings Changes

AMZN has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group upped 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. Wolfe Research raised their target price on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wedbush upped their price target on shares of Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Moffett Nathanson increased their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $245.65.

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.