Golden State Equity Partners Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Golden State Equity Partners cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 17.0% in the 3rd quarter, Holdings Channel reports. The firm owned 41,532 shares of the e-commerce giant’s stock after selling 8,495 shares during the period. Amazon.com makes up about 1.7% of Golden State Equity Partners’ portfolio, making the stock its 7th biggest position. Golden State Equity Partners’ holdings in Amazon.com were worth $7,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in Amazon.com by 31.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock worth $32,894,000 after buying an additional 43,759 shares in the last quarter. Quent Capital LLC raised its stake in Amazon.com by 3.3% in the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock worth $6,084,000 after buying an additional 1,081 shares in the last quarter. Puzo Michael J grew its holdings in Amazon.com by 10.5% in the first quarter. Puzo Michael J now owns 60,382 shares of the e-commerce giant’s stock worth $10,892,000 after purchasing an additional 5,747 shares during the period. Pitcairn Co. grew its holdings in Amazon.com by 1.2% in the first quarter. Pitcairn Co. now owns 149,250 shares of the e-commerce giant’s stock worth $26,922,000 after purchasing an additional 1,814 shares during the period. Finally, GQG Partners LLC grew its holdings in Amazon.com by 25.9% in the first quarter. GQG Partners LLC now owns 13,762,546 shares of the e-commerce giant’s stock worth $2,482,488,000 after purchasing an additional 2,829,511 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.1 %

AMZN opened at $220.55 on Friday. The company has a market capitalization of $2.32 trillion, a PE ratio of 47.23, a PEG ratio of 1.43 and a beta of 1.16. Amazon.com, Inc. has a 1-year low of $143.64 and a 1-year high of $222.15. The firm’s 50 day simple moving average is $196.61 and its two-hundred day simple moving average is $187.78. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark upped their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities upped their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Evercore ISI upped their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group increased their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $236.20.

Insider Activity

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now 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. Insiders have sold 6,030,183 shares of company stock worth $1,252,883,795 in the last three months. Company insiders own 10.80% of the company’s stock.

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.