Christensen King & Associates Investment Services Inc. Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Christensen King & Associates Investment Services Inc. reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,575 shares of the e-commerce giant’s stock after selling 173 shares during the quarter. Christensen King & Associates Investment Services Inc.’s holdings in Amazon.com were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. PayPay Securities Corp lifted its holdings 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 last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com during the third quarter valued at about $45,000. Values First Advisors Inc. bought a new position in shares of Amazon.com during the third quarter valued at about $56,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Amazon.com by 84.7% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after acquiring an additional 199 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % 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 worth $1,253,456,822 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMZN shares. Maxim Group raised their price target on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Evercore ISI upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Moffett Nathanson raised their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Roth Mkm upped their price target on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average price target of $249.02.

Amazon.com Stock Down 0.2 %

Shares of AMZN stock opened at $234.85 on Friday. The company has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 1.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company’s fifty day moving average price is $219.63 and its 200-day moving average price is $197.22. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $236.40.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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 business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the firm posted $0.85 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 5.39 EPS for the current fiscal 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.