Amazon.com, Inc. $AMZN Shares Sold by Vantage Investment Partners LLC

Vantage Investment Partners LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 194,976 shares of the e-commerce giant’s stock after selling 7,144 shares during the period. Amazon.com accounts for 2.9% of Vantage Investment Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Vantage Investment Partners LLC’s holdings in Amazon.com were worth $48,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE purchased a new position in Amazon.com in the second quarter valued at about $22,218,775,000. Bank of New York Mellon Corp acquired a new position in Amazon.com in the 2nd quarter worth about $16,341,405,000. Legal & General Group Plc purchased a new stake in shares of Amazon.com during the 2nd quarter worth about $12,831,376,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Amazon.com during the 2nd quarter worth about $6,631,466,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Amazon.com during the 2nd quarter worth about $5,910,083,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Down 0.3%

Shares of NASDAQ:AMZN traded down $0.78 on Friday, reaching $266.66. The company had a trading volume of 31,035,709 shares, compared to its average volume of 50,501,436. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $287.20. The stock has a 50-day moving average price of $254.82 and a 200 day moving average price of $244.32. The stock has a market capitalization of $2.88 trillion, a P/E ratio of 21.56, a P/E/G ratio of 2.03 and a beta of 1.49. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.28.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 29th. The e-commerce giant reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.08). The company had revenue of $201.94 billion for the quarter, compared to the consensus estimate of $202.22 billion. Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 7.80 EPS for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 14,541 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the completion of the sale, the chief executive officer owned 17,794 shares of the company’s stock, valued at $4,609,713.64. This represents a 44.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,343 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $606,860.43. Following the completion of the transaction, the vice president owned 119,780 shares in the company, valued at $31,024,217.80. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 71,589 shares of company stock worth $18,545,595. 8.90% of the stock is currently owned by company insiders.

Key Amazon.com News

Investors following AMZN have been watching these news items:

• Neutral Sentiment: A planned launch of 40 Amazon Leo satellites could advance its satellite-internet service, although the launch itself does not establish the service’s eventual commercial returns. TipRanks article
• Negative Sentiment: Amazon’s European unit and managers could face a criminal trial in Italy over alleged unpaid import VAT and customs duties on third-party cross-border sales. A trial could bring legal costs, penalties, or reputational risk; the allegations have not been resolved. Yahoo Finance article
• Negative Sentiment: United Airlines’ CEO reportedly criticized Amazon Leo as a mistake while praising Starlink’s competitive position, highlighting execution and competition risks for Amazon’s satellite initiative. Benzinga article

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Amazon.com from $329.00 to $326.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Cantor Fitzgerald dropped their price objective on Amazon.com from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. KeyCorp set a $345.00 price objective on shares of Amazon.com and gave the company an “overweight” rating in a research report on Friday, October 30th. Benchmark lifted their target price on shares of Amazon.com from $370.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Pivotal Research reiterated a “buy” rating and issued a $333.00 target price (up from $320.00) on shares of Amazon.com in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Amazon.com Profile

Amazon.com, Inc. is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators. Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.