Ithaka Group LLC Has $42.59 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Ithaka Group LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 228,572 shares of the e-commerce giant’s stock after selling 9,844 shares during the quarter. Amazon.com makes up approximately 8.1% of Ithaka Group LLC’s investment portfolio, making the stock its 2nd largest holding. Ithaka Group LLC’s holdings in Amazon.com were worth $42,590,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMZN. Semus Wealth Partners LLC lifted its position in Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the last quarter. Meridian Investment Counsel Inc. increased its stake in shares of Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares during the period. O Connor Financial Group LLC raised its holdings in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after buying an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC boosted its position in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the period. Finally, Cedar Point Capital Partners LLC grew its holdings in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after acquiring an additional 56 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMZN has been the subject of a number of analyst reports. Monness Crespi & Hardt increased their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Pivotal Research began coverage on Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Royal Bank of Canada lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group upped their target price on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Robert W. Baird raised their price target on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Performance

AMZN stock opened at $220.22 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $144.05 and a 1 year high of $233.00. The company has a market cap of $2.32 trillion, a P/E ratio of 47.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The stock’s fifty day moving average price is $211.67 and its 200-day moving average price is $193.59.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.