CloudAlpha Capital Management Limited Hong Kong Sells 47,488 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CloudAlpha Capital Management Limited Hong Kong cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% during the third quarter, Holdings Channel reports. The firm owned 496,224 shares of the e-commerce giant’s stock after selling 47,488 shares during the quarter. Amazon.com makes up approximately 5.4% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 6th largest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Amazon.com were worth $92,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PayPay Securities Corp raised its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP purchased a new position in shares of Amazon.com during the third quarter valued at $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the third quarter valued at $45,000. Christopher J. Hasenberg Inc lifted its stake in 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 in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI upped their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Telsey Advisory Group increased their target price on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a report on Wednesday, November 20th. Finally, Morgan Stanley increased their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $243.00.

Insider Activity at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $229.05 on Wednesday. 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’s 50-day moving average is $206.58 and its 200-day moving average is $191.74. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16.

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 firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate 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.