Palouse Capital Management Inc. Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Palouse Capital Management Inc. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,354 shares of the e-commerce giant’s stock after selling 223 shares during the period. Palouse Capital Management Inc.’s holdings in Amazon.com were worth $1,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Carolina Wealth Advisors LLC boosted its position in shares of Amazon.com by 5.7% during the third quarter. Carolina Wealth Advisors LLC now owns 2,001 shares of the e-commerce giant’s stock worth $373,000 after buying an additional 108 shares during the period. Eaton Cambridge Inc. boosted its position in shares of Amazon.com by 1.7% during the third quarter. Eaton Cambridge Inc. now owns 4,482 shares of the e-commerce giant’s stock worth $835,000 after buying an additional 76 shares during the period. Northwest Investment Counselors LLC boosted its holdings in Amazon.com by 4.2% in the third quarter. Northwest Investment Counselors LLC now owns 31,877 shares of the e-commerce giant’s stock valued at $5,940,000 after purchasing an additional 1,272 shares during the period. Retirement Guys Formula LLC boosted its holdings in Amazon.com by 213.2% in the third quarter. Retirement Guys Formula LLC now owns 9,696 shares of the e-commerce giant’s stock valued at $1,807,000 after purchasing an additional 6,600 shares during the period. Finally, Border to Coast Pensions Partnership Ltd boosted its holdings in Amazon.com by 8.6% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,057,151 shares of the e-commerce giant’s stock valued at $196,404,000 after purchasing an additional 83,726 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMZN shares. Deutsche Bank Aktiengesellschaft lifted their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial lifted their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Roth Mkm lifted their target price on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $235.77.

Amazon.com Stock Performance

NASDAQ AMZN opened at $197.12 on Friday. 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, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90. The business’s 50-day moving average price is $193.00 and its 200 day moving average price is $186.32. The firm has a market cap of $2.07 trillion, a P/E ratio of 42.21, a P/E/G ratio of 1.37 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,011,423 shares of company stock valued at $1,249,093,896. 10.80% of the stock is owned by corporate 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.