Allworth Financial LP Sells 6,565 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Allworth Financial LP decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 297,762 shares of the e-commerce giant’s stock after selling 6,565 shares during the period. Allworth Financial LP’s holdings in Amazon.com were worth $55,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. CWC Advisors LLC. purchased a new position in shares of Amazon.com during the third quarter valued at approximately $338,000. Mayfair Advisory Group LLC boosted its position in shares of Amazon.com by 21.5% during the third quarter. Mayfair Advisory Group LLC now owns 5,025 shares of the e-commerce giant’s stock valued at $937,000 after buying an additional 889 shares during the last quarter. Convergence Financial LLC boosted its position in shares of Amazon.com by 3.8% during the third quarter. Convergence Financial LLC now owns 29,209 shares of the e-commerce giant’s stock valued at $5,443,000 after buying an additional 1,063 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC boosted its position in shares of Amazon.com by 69.6% during the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 7,236 shares of the e-commerce giant’s stock valued at $1,348,000 after buying an additional 2,969 shares during the last quarter. Finally, Capital Management Associates Inc boosted its position in shares of Amazon.com by 24.1% during the third quarter. Capital Management Associates Inc now owns 8,141 shares of the e-commerce giant’s stock valued at $1,517,000 after buying an additional 1,580 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value 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. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMZN shares. Stifel Nicolaus boosted their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Maxim Group boosted their price objective on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Scotiabank boosted their price objective on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Needham & Company LLC boosted their price objective on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two equities 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.20.

Amazon.com Trading Up 1.0 %

NASDAQ AMZN opened at $207.89 on Friday. Amazon.com, Inc. has a fifty-two week low of $142.81 and a fifty-two week high of $215.90. 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 stock has a 50 day simple moving average of $194.78 and a two-hundred day simple moving average of $186.94. The stock has a market cap of $2.19 trillion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 1.38 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 earnings per share for the quarter, topping 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 business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business posted $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.