Bar Harbor Wealth Management Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Bar Harbor Wealth Management lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 83,944 shares of the e-commerce giant’s stock after selling 1,799 shares during the period. Amazon.com makes up 1.0% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 29th largest position. Bar Harbor Wealth Management’s holdings in Amazon.com were worth $15,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. PayPay Securities Corp increased its holdings in 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 buying an additional 64 shares during the period. Hoese & Co LLP purchased a new stake in Amazon.com in the third quarter valued at $37,000. Christopher J. Hasenberg Inc grew its position in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com in the 1st quarter valued at about $69,000. Finally, Innealta Capital LLC purchased a new stake in shares of Amazon.com in the second quarter worth about $77,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $202.61 on Monday. The company’s 50-day moving average is $191.16 and its two-hundred day moving average is $185.81. Amazon.com, Inc. has a 1-year low of $139.52 and a 1-year high of $215.90. 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 firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 43.39, a PEG ratio of 1.36 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. Analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insider Activity

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 22.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,053,349 shares of company stock valued at $1,256,503,289 in the last quarter. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group increased 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. JMP Securities lifted their price objective on shares of Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.45.

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.