Amazon.com, Inc. (NASDAQ:AMZN) Position Cut by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 94,111 shares of the e-commerce giant’s stock after selling 2,876 shares during the quarter. Amazon.com accounts for about 2.7% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 7th biggest position. Sompo Asset Management Co. Ltd.’s holdings in Amazon.com were worth $17,536,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp grew its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com in the third quarter valued at approximately $45,000. Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com during the third quarter worth $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 1.8 %

Shares of AMZN opened at $224.19 on Friday. The firm has a market cap of $2.36 trillion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company’s fifty day moving average is $213.07 and its two-hundred day moving average is $194.05. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two 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 announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. Analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMZN shares. The Goldman Sachs Group boosted their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Susquehanna boosted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Roth Mkm boosted their price target on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Loop Capital boosted their price target on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Moffett Nathanson boosted their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.44.

Insider Buying and Selling 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 shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. 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.