Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Asset Dedication LLC

Asset Dedication LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 12.7% during the 3rd quarter, Holdings Channel reports. The firm owned 57,416 shares of the e-commerce giant’s stock after selling 8,332 shares during the quarter. Amazon.com comprises 0.7% of Asset Dedication LLC’s investment portfolio, making the stock its 22nd biggest holding. Asset Dedication LLC’s holdings in Amazon.com were worth $10,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. PayPay Securities Corp increased its position in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter valued at $37,000. Christopher J. Hasenberg Inc raised its position in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the first quarter worth $69,000. Finally, Innealta Capital LLC acquired a new stake in Amazon.com in the second quarter valued at $77,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group boosted their target price on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Telsey Advisory Group boosted their target price on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 target price (up from $230.00) on shares of Amazon.com in a report on Friday, November 1st. Jefferies Financial Group lifted their price target on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.45.

Amazon.com Price Performance

NASDAQ:AMZN opened at $211.48 on Friday. Amazon.com, Inc. has a one year low of $139.52 and a one year high of $215.90. The stock has a market cap of $2.22 trillion, a P/E ratio of 45.28, a PEG ratio of 1.40 and a beta of 1.14. The company has a fifty day moving average price of $189.87 and a 200 day moving average price of $185.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Analysts anticipate that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. This represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 9,490 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.88, for a total transaction of $1,716,551.20. Following the sale, the senior vice president now directly owns 64,610 shares of the company’s stock, valued at $11,686,656.80. This represents a 12.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,053,349 shares of company stock valued at $1,256,503,289 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Profile

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.