Cullinan Associates Inc. Purchases 3,007 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cullinan Associates Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% during the third quarter, Holdings Channel reports. The fund owned 161,384 shares of the e-commerce giant’s stock after acquiring an additional 3,007 shares during the period. Amazon.com comprises approximately 1.7% of Cullinan Associates Inc.’s investment portfolio, making the stock its 13th biggest position. Cullinan Associates Inc.’s holdings in Amazon.com were worth $30,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PayPay Securities Corp lifted its position in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com during the 3rd quarter valued at about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the 3rd quarter valued at approximately $45,000. Christopher J. Hasenberg Inc increased its holdings in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Amazon.com in the 3rd quarter worth approximately $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMZN. DA Davidson reiterated a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. JMP Securities upped their target price on shares of Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities upped their price objective on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Redburn Atlantic lifted their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.20.

Amazon.com Price Performance

AMZN opened at $205.74 on Friday. The business has a fifty day moving average of $194.46 and a 200 day moving average of $186.79. The stock has a market cap of $2.16 trillion, a P/E ratio of 44.06, a PEG ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,026,683 shares of company stock worth $1,252,148,795 in the last ninety days. 10.80% of the stock is owned by company insiders.

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.