SouthState Corp Has $31.24 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

SouthState Corp raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,648 shares of the e-commerce giant’s stock after purchasing an additional 2,774 shares during the period. Amazon.com makes up about 2.2% of SouthState Corp’s portfolio, making the stock its 7th largest holding. SouthState Corp’s holdings in Amazon.com were worth $31,238,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Foundations Investment Advisors LLC grew its holdings in Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares during the last quarter. Umpqua Bank grew its holdings in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after acquiring an additional 137 shares during the period. Washington Trust Advisors Inc. grew its stake in shares of Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after buying an additional 982 shares during the period. BayBridge Capital Group LLC lifted its position in Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC lifted its position in Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after acquiring an additional 5,828 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 1.1 %

Shares of NASDAQ AMZN opened at $221.30 on Tuesday. The company has a market cap of $2.33 trillion, a PE ratio of 47.39, a P/E/G ratio of 1.54 and a beta of 1.16. The firm’s 50 day moving average price is $209.73 and its 200-day moving average price is $192.89. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results 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. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. On average, equities research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent analyst reports. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $285.00 price target on shares of Amazon.com in a research report on Monday, December 16th. UBS Group boosted their price target on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Bank of America lifted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company 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 firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at $106,797,072.91. The trade was a 1.05 % 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 valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

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.