IronBridge Private Wealth LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

IronBridge Private Wealth LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,304 shares of the e-commerce giant’s stock after selling 702 shares during the period. Amazon.com accounts for approximately 1.8% of IronBridge Private Wealth LLC’s investment portfolio, making the stock its 18th biggest holding. IronBridge Private Wealth LLC’s holdings in Amazon.com were worth $4,715,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PayPay Securities Corp lifted its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in shares of Amazon.com in the 3rd quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the 3rd quarter worth $45,000. Christopher J. Hasenberg Inc lifted its stake in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com in the 3rd quarter worth $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by company insiders.

Amazon.com Price Performance

Amazon.com stock opened at $218.94 on Friday. Amazon.com, Inc. has a 1 year low of $149.91 and a 1 year high of $233.00. The firm has a 50 day moving average price of $216.20 and a 200 day moving average price of $195.34. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14. 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 released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMZN. Rosenblatt Securities raised their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wedbush raised their target price on shares of Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Roth Mkm raised their target price on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Truist Financial raised their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Maxim Group raised their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.67.

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.