Hartford Funds Management Co LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Hartford Funds Management Co LLC lifted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% in the third quarter, HoldingsChannel.com reports. The fund owned 11,033 shares of the e-commerce giant’s stock after purchasing an additional 394 shares during the period. Amazon.com accounts for 0.2% of Hartford Funds Management Co LLC’s holdings, making the stock its 14th biggest position. Hartford Funds Management Co LLC’s holdings in Amazon.com were worth $2,056,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Western Wealth Management LLC boosted its stake in shares of Amazon.com by 5.5% in the 2nd quarter. Western Wealth Management LLC now owns 135,582 shares of the e-commerce giant’s stock worth $26,201,000 after buying an additional 7,034 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Amazon.com during the second quarter valued at $292,000. MONECO Advisors LLC lifted its holdings in Amazon.com by 2.9% in the second quarter. MONECO Advisors LLC now owns 56,522 shares of the e-commerce giant’s stock valued at $10,923,000 after acquiring an additional 1,600 shares during the period. ADE LLC boosted its position in Amazon.com by 5.3% in the second quarter. ADE LLC now owns 2,293 shares of the e-commerce giant’s stock worth $443,000 after purchasing an additional 115 shares during the last quarter. Finally, Greenspring Advisors LLC grew its stake in shares of Amazon.com by 25.4% during the 2nd quarter. Greenspring Advisors LLC now owns 4,859 shares of the e-commerce giant’s stock valued at $939,000 after purchasing an additional 985 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler increased their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. TD Cowen boosted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wedbush raised their target price on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark lifted their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.44.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This represents a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction 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 owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $224.19 on Friday. The firm has a market capitalization of $2.36 trillion, a PE ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. The stock’s fifty day moving average is $213.07 and its 200 day moving average is $194.05. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two 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.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.