Indie Asset Partners LLC Lowers Position in Amazon.com, Inc. (NASDAQ:AMZN)

Indie Asset Partners LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 9,591 shares of the e-commerce giant’s stock after selling 240 shares during the period. Amazon.com comprises approximately 1.3% of Indie Asset Partners LLC’s holdings, making the stock its 11th biggest holding. Indie Asset Partners LLC’s holdings in Amazon.com were worth $1,787,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares in the last quarter. Swedbank AB acquired a new stake in shares of Amazon.com in the first quarter worth $2,239,757,000. Strategic Financial Concepts LLC raised its stake in shares of Amazon.com by 13,606.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after acquiring an additional 3,903,889 shares during the period. Wulff Hansen & CO. lifted its holdings in shares of Amazon.com by 20,517.4% during the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock valued at $750,646,000 after acquiring an additional 3,865,485 shares in the last quarter. Finally, Granite Bay Wealth Management LLC boosted its position in Amazon.com by 6,590.8% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock worth $432,394,000 after purchasing an additional 2,318,713 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,030,183 shares of company stock worth $1,252,883,795 in the last three months. 10.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMZN shares. Susquehanna boosted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Mizuho boosted 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. Piper Sandler increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $197.00 target price on shares of Amazon.com in a research report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus target price of $237.42.

Amazon.com Stock Performance

Shares of AMZN opened at $225.04 on Wednesday. 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 $143.64 and a 1 year high of $230.08. The firm has a fifty day moving average of $198.19 and a 200-day moving average of $188.47. The company has a market cap of $2.37 trillion, a price-to-earnings ratio of 48.19, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, equities analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.