Quarry LP Sells 222 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Quarry LP lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,192 shares of the e-commerce giant’s stock after selling 222 shares during the quarter. Quarry LP’s holdings in Amazon.com were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMZN. Semus Wealth Partners LLC boosted its position in Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the last quarter. Bell Investment Advisors Inc boosted its position in Amazon.com by 1.5% during the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after purchasing an additional 51 shares during the last quarter. O Connor Financial Group LLC boosted its position in Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its stake in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the period. Finally, Cedar Point Capital Partners LLC raised its stake in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after buying an additional 56 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AMZN shares. Loop Capital upped their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Scotiabank upped their price objective on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Wedbush upped their price objective on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Oppenheimer upped their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the business’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 sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 1.4 %

Shares of AMZN opened at $218.94 on Friday. Amazon.com, Inc. has a 52-week low of $149.91 and a 52-week high of $233.00. The business’s fifty day moving average is $216.20 and its 200-day moving average is $195.41. 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 firm 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.

Amazon.com (NASDAQ:AMZN) last issued its quarterly 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 return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.