Archer Investment Corp Sells 279 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Archer Investment Corp reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the third quarter, Holdings Channel.com reports. The fund owned 13,259 shares of the e-commerce giant’s stock after selling 279 shares during the period. Archer Investment Corp’s holdings in Amazon.com were worth $2,471,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Legal & General Group Plc lifted its holdings in Amazon.com by 1.5% during the 2nd 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 buying an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Amazon.com by 0.4% during the second 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 acquiring an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Amazon.com by 3.4% during the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after acquiring an additional 1,329,150 shares in the last quarter. International Assets Investment Management LLC boosted its holdings 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 purchasing an additional 38,949,065 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Amazon.com by 1.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock worth $6,161,579,000 after purchasing an additional 464,938 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

AMZN stock opened at $229.05 on Thursday. The stock’s 50 day moving average is $207.40 and its two-hundred day moving average is $192.05. The company has a market capitalization of $2.41 trillion, a PE ratio of 49.05, 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 $233.00. 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 (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS 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 during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Tuesday, December 10th. Mizuho lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Piper Sandler raised their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America upped their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $197.00 price target on shares of Amazon.com in a research note on Wednesday, November 20th. Two 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 presently has an average rating of “Moderate Buy” and an average price target of $243.00.

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.