Amazon.com, Inc. (NASDAQ:AMZN) Position Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,299,148 shares of the e-commerce giant’s stock after buying an additional 79,561 shares during the period. Amazon.com makes up 2.6% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 4th largest position. State of Alaska Department of Revenue’s holdings in Amazon.com were worth $242,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMZN. 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 shares of Amazon.com in the 3rd quarter valued at $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the third quarter worth $45,000. Values First Advisors Inc. purchased a new position in shares of Amazon.com during the third quarter worth $56,000. Finally, Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Telsey Advisory Group lifted their price target on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird upped their price objective on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Loop Capital lifted their target price on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Two 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.20.

Insider Buying and Selling

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,026,683 shares of company stock valued at $1,252,148,795. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Performance

Amazon.com stock opened at $207.89 on Monday. The firm has a 50 day simple moving average of $194.78 and a 200-day simple moving average of $186.94. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.52, a price-to-earnings-growth ratio of 1.39 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. Amazon.com, Inc. has a 1-year low of $142.81 and a 1-year high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued 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 company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts expect that Amazon.com, Inc. will post 5.29 EPS 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.