Northeast Financial Consultants Inc Sells 340 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Northeast Financial Consultants Inc reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 295,468 shares of the e-commerce giant’s stock after selling 340 shares during the period. Amazon.com makes up approximately 2.4% of Northeast Financial Consultants Inc’s portfolio, making the stock its 11th largest position. Northeast Financial Consultants Inc’s holdings in Amazon.com were worth $55,055,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the third quarter worth $45,000. Christopher J. Hasenberg Inc increased its position in shares of Amazon.com by 650.0% in 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 period. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com in the third quarter worth $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity

In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 value of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. Mizuho raised their price target on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their target price on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday. Susquehanna lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Telsey Advisory Group lifted their target price on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.33.

Amazon.com Price Performance

Shares of AMZN opened at $218.46 on Tuesday. Amazon.com, Inc. has a 52-week low of $149.91 and a 52-week high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s 50 day moving average price is $216.66 and its two-hundred day moving average price is $195.57. The firm has a market cap of $2.30 trillion, a PE ratio of 46.78, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (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 firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS 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.