Institute for Wealth Management LLC. Trims Stake in Amazon.com, Inc. $AMZN

Institute for Wealth Management LLC. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.6% during the third quarter, Holdings Channel.com reports. The firm owned 84,792 shares of the e-commerce giant’s stock after selling 5,044 shares during the period. Amazon.com accounts for about 1.9% of Institute for Wealth Management LLC.’s portfolio, making the stock its 4th largest position. Institute for Wealth Management LLC.’s holdings in Amazon.com were worth $18,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barlow Wealth Partners Inc. increased its stake in Amazon.com by 0.4% during the second quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock worth $2,763,000 after acquiring an additional 44 shares during the last quarter. Ridgecrest Wealth Partners LLC increased its position in shares of Amazon.com by 0.5% during the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock valued at $1,843,000 after purchasing an additional 45 shares during the last quarter. Probity Advisors Inc. raised its holdings in Amazon.com by 0.4% during the 2nd quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock valued at $2,667,000 after buying an additional 45 shares during the period. IMPACTfolio LLC lifted its position in Amazon.com by 3.8% in the third quarter. IMPACTfolio LLC now owns 1,225 shares of the e-commerce giant’s stock worth $269,000 after buying an additional 45 shares during the last quarter. Finally, Union Savings Bank boosted its stake in Amazon.com by 0.4% during the second quarter. Union Savings Bank now owns 10,723 shares of the e-commerce giant’s stock worth $2,510,000 after buying an additional 45 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $216.94, for a total value of $4,311,031.68. Following the completion of the sale, the chief executive officer owned 2,208,310 shares in the company, valued at approximately $479,070,771.40. The trade was a 0.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 8,173 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $250.03, for a total transaction of $2,043,495.19. Following the completion of the sale, the director directly owned 80,030 shares of the company’s stock, valued at $20,009,900.90. The trade was a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 79,734 shares of company stock worth $18,534,017. 10.80% of the stock is currently owned by company insiders.

Trending Headlines about Amazon.com

Here are the key news stories impacting Amazon.com this week:

Analysts Set New Price Targets

Several research firms have recently issued reports on AMZN. Evercore ISI restated an “outperform” rating on shares of Amazon.com in a report on Monday. Barclays reissued an “overweight” rating and issued a $300.00 price objective (up previously from $275.00) on shares of Amazon.com in a research note on Friday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $300.00 target price on shares of Amazon.com in a research note on Thursday, December 11th. Maxim Group increased their price target on Amazon.com from $272.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Stifel Nicolaus boosted their price objective on Amazon.com from $269.00 to $295.00 and gave the company a “buy” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $296.21.

Get Our Latest Stock Report on Amazon.com

Amazon.com Trading Up 3.4%

Shares of NASDAQ AMZN opened at $240.95 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $232.46 and a two-hundred day simple moving average of $227.23. The firm has a market cap of $2.58 trillion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 1.46 and a beta of 1.37. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month high of $258.60.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The business had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 EPS. Analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com Profile

(Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

Featured Stories

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZNFree Report).

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.