Lake Street Advisors Group LLC Sells 3,631 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Lake Street Advisors Group LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,478 shares of the e-commerce giant’s stock after selling 3,631 shares during the quarter. Amazon.com comprises approximately 1.0% of Lake Street Advisors Group LLC’s holdings, making the stock its 21st largest holding. Lake Street Advisors Group LLC’s holdings in Amazon.com were worth $20,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL raised its position in shares of Amazon.com by 1.0% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 8,980 shares of the e-commerce giant’s stock valued at $1,673,000 after acquiring an additional 90 shares during the period. Hudock Inc. lifted its holdings in shares of Amazon.com by 2.4% during the 3rd quarter. Hudock Inc. now owns 7,367 shares of the e-commerce giant’s stock valued at $1,373,000 after purchasing an additional 173 shares in the last quarter. Financial Management Network Inc. grew its position in shares of Amazon.com by 2.3% in the 3rd quarter. Financial Management Network Inc. now owns 27,742 shares of the e-commerce giant’s stock valued at $5,174,000 after purchasing an additional 624 shares during the period. Cullinan Associates Inc. raised its holdings in Amazon.com by 1.9% during the 3rd quarter. Cullinan Associates Inc. now owns 161,384 shares of the e-commerce giant’s stock worth $30,496,000 after buying an additional 3,007 shares during the period. Finally, Warther Private Wealth LLC boosted its holdings in shares of Amazon.com by 128.7% in the third quarter. Warther Private Wealth LLC now owns 100,682 shares of the e-commerce giant’s stock valued at $18,760,000 after buying an additional 56,662 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Loop Capital increased their target price on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Scotiabank raised their target price on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Oppenheimer raised their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Redburn Atlantic boosted their price target on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Telsey Advisory Group raised their target price on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.20.

Insider Buying and Selling

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock valued at $1,252,148,795 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $207.89 on Friday. The company has a market capitalization of $2.19 trillion, a PE ratio of 44.52, a P/E/G ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $142.81 and a fifty-two week high of $215.90. 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 company has a 50 day simple moving average of $194.78 and a two-hundred day simple moving average of $186.94.

Amazon.com (NASDAQ:AMZN) last released its 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 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 previous year, the business earned $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts anticipate 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.