Essex Financial Services Inc. Sells 8,234 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Essex Financial Services Inc. decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,634 shares of the e-commerce giant’s stock after selling 8,234 shares during the quarter. Amazon.com makes up 1.0% of Essex Financial Services Inc.’s holdings, making the stock its 15th largest holding. Essex Financial Services Inc.’s holdings in Amazon.com were worth $22,125,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Vanguard Group Inc. raised its stake in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Swedbank AB bought a new stake in Amazon.com during the 1st quarter valued at approximately $2,239,757,000. Capital World Investors lifted its holdings in Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after purchasing an additional 11,524,463 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMZN shares. Piper Sandler lifted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Benchmark lifted their price target on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wedbush increased their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Loop Capital raised their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Redburn Atlantic boosted their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.20.

Amazon.com Trading Up 1.0 %

NASDAQ:AMZN opened at $207.89 on Monday. The firm has a 50-day simple moving average of $194.78 and a 200-day simple moving average of $186.94. Amazon.com, Inc. has a one year low of $142.81 and a one year high of $215.90. The firm has a market cap of $2.19 trillion, a P/E ratio of 44.52, a P/E/G ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping 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 return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s 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 transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock worth $1,252,148,795 in the last three months. 10.80% of the stock is owned by 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.