Prio Wealth Limited Partnership Lowers Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Prio Wealth Limited Partnership lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 583,054 shares of the e-commerce giant’s stock after selling 18,282 shares during the period. Amazon.com accounts for 3.2% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 6th largest position. Prio Wealth Limited Partnership’s holdings in Amazon.com were worth $108,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PayPay Securities Corp raised its holdings in shares of 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 buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com during the 3rd quarter valued at about $37,000. Christopher J. Hasenberg Inc increased its stake in Amazon.com by 650.0% in the 2nd 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. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Amazon.com during the first quarter valued at approximately $69,000. Finally, Innealta Capital LLC bought a new position in shares of Amazon.com in the second quarter worth approximately $77,000. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 4,766 shares of Amazon.com stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the transaction, the director now directly owns 94,630 shares in the company, valued at $19,858,105.50. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,011,423 shares of company stock valued at $1,249,093,896 over the last 90 days. 10.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Maxim Group upped their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Sanford C. Bernstein upped their target price on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a report on Wednesday. Pivotal Research assumed coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, Jefferies Financial Group lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $235.77.

Amazon.com Stock Down 2.1 %

Shares of NASDAQ AMZN opened at $198.70 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $142.81 and a 1 year high of $215.90. The stock’s 50-day simple moving average is $192.79 and its 200-day simple moving average is $186.26. The firm has a market cap of $2.09 trillion, a price-to-earnings ratio of 42.55, a PEG ratio of 1.37 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

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.