Spinnaker Trust Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Spinnaker Trust lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,945 shares of the e-commerce giant’s stock after selling 1,859 shares during the period. Amazon.com makes up approximately 0.8% of Spinnaker Trust’s investment portfolio, making the stock its 29th largest holding. Spinnaker Trust’s holdings in Amazon.com were worth $13,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Foundations Investment Advisors LLC increased its stake in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares during the period. Zhang Financial LLC boosted its holdings in Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares during the last quarter. BayBridge Capital Group LLC grew its position in Amazon.com by 51.8% during the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after purchasing an additional 4,905 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Amazon.com by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after buying an additional 14,766 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Amazon.com by 19.2% in the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after buying an additional 19,231 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. 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 report on Friday, November 1st. Finally, DA Davidson reissued a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $238.87.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 0.7 %

NASDAQ AMZN opened at $227.46 on Friday. The business’s fifty day simple moving average is $201.65 and its 200-day simple moving average is $189.72. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.39 trillion, a PE ratio of 48.71, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $231.20.

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

Amazon.com Company 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.