Cravens & Co Advisors LLC Lowers Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cravens & Co Advisors LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.8% in the 3rd quarter, Holdings Channel reports. The firm owned 6,113 shares of the e-commerce giant’s stock after selling 515 shares during the quarter. Amazon.com accounts for approximately 0.9% of Cravens & Co Advisors LLC’s portfolio, making the stock its 21st biggest position. Cravens & Co Advisors LLC’s holdings in Amazon.com were worth $1,139,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC grew its stake in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares in the last quarter. Umpqua Bank lifted its position in shares of Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Amazon.com by 0.4% during the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after purchasing an additional 982 shares during the last quarter. BayBridge Capital Group LLC increased its holdings in shares of Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares during the last quarter. Finally, Zhang Financial LLC raised its holdings in shares of Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $227.61 on Tuesday. Amazon.com, Inc. has a one year low of $146.15 and a one year high of $233.00. The company has a market capitalization of $2.39 trillion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The business has a 50 day simple moving average of $213.85 and a 200 day simple moving average of $194.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

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 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 during the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a research note on Monday, December 16th. Loop Capital boosted their price target on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Susquehanna boosted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Evercore ISI lifted their price target on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Pivotal Research initiated 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 for the company. Two equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.

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.