Herbst Group LLC Sells 3,796 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Herbst Group LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,022 shares of the e-commerce giant’s stock after selling 3,796 shares during the quarter. Amazon.com comprises approximately 3.8% of Herbst Group LLC’s investment portfolio, making the stock its 3rd largest holding. Herbst Group LLC’s holdings in Amazon.com were worth $6,148,000 as of its most recent SEC filing.

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

Amazon.com Stock Performance

AMZN opened at $237.68 on Friday. The company has a fifty day moving average of $223.83 and a 200 day moving average of $198.87. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $241.77. The stock has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 50.90, a PEG ratio of 1.35 and a beta of 1.14. 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 posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the firm posted $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,027,340 shares of company stock valued at $1,252,456,773 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMZN. Pivotal Research assumed coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Loop Capital increased their price target on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group raised their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein boosted their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Two equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $250.33.

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.