Riverstone Advisors LLC Has $15.41 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Riverstone Advisors LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,722 shares of the e-commerce giant’s stock after selling 620 shares during the period. Amazon.com makes up approximately 9.0% of Riverstone Advisors LLC’s holdings, making the stock its 3rd largest holding. Riverstone Advisors LLC’s holdings in Amazon.com were worth $15,414,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Legal & General Group Plc grew its position in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Amazon.com by 3.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after purchasing an additional 1,329,150 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Amazon.com by 1.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after purchasing an additional 464,938 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the business’s 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 of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

AMZN stock opened at $224.92 on Friday. Amazon.com, Inc. has a 1-year low of $144.05 and a 1-year high of $233.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.37 trillion, a PE ratio of 48.16, a P/E/G ratio of 1.54 and a beta of 1.16. The business’s 50-day moving average price is $205.83 and its two-hundred day moving average price is $191.30.

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 business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wedbush upped their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Tigress Financial lifted their price objective on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday. UBS Group boosted their price objective on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Pivotal Research began coverage on Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.00.

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.