Avitas Wealth Management LLC Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Avitas Wealth Management LLC lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 116,070 shares of the e-commerce giant’s stock after selling 3,431 shares during the period. Amazon.com comprises about 3.0% of Avitas Wealth Management LLC’s investment portfolio, making the stock its 5th biggest position. Avitas Wealth Management LLC’s holdings in Amazon.com were worth $21,627,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Childress Capital Advisors LLC boosted its position in Amazon.com by 2.6% during the 3rd quarter. Childress Capital Advisors LLC now owns 31,061 shares of the e-commerce giant’s stock valued at $5,788,000 after buying an additional 788 shares during the period. Highview Capital Management LLC DE increased its stake in shares of Amazon.com by 5.3% in the 3rd quarter. Highview Capital Management LLC DE now owns 27,457 shares of the e-commerce giant’s stock worth $5,116,000 after acquiring an additional 1,389 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Amazon.com by 2.7% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 30,621 shares of the e-commerce giant’s stock worth $5,706,000 after acquiring an additional 819 shares in the last quarter. Lodestar Private Asset Management LLC increased its stake in Amazon.com by 1.6% during the 3rd quarter. Lodestar Private Asset Management LLC now owns 50,774 shares of the e-commerce giant’s stock valued at $9,461,000 after purchasing an additional 776 shares in the last quarter. Finally, Deltec Asset Management LLC increased its stake in Amazon.com by 0.5% during the 3rd quarter. Deltec Asset Management LLC now owns 192,709 shares of the e-commerce giant’s stock valued at $35,907,000 after purchasing an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,030,183 shares of company stock valued at $1,252,883,795 in the last 90 days. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

AMZN opened at $218.16 on Thursday. Amazon.com, Inc. has a 12-month low of $143.13 and a 12-month high of $220.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.29 trillion, a PE ratio of 46.72, a P/E/G ratio of 1.41 and a beta of 1.16. The firm has a 50 day moving average of $196.02 and a two-hundred day moving average of $187.55.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMZN. Needham & Company LLC restated a “buy” rating and set a $250.00 target price on shares of Amazon.com in a research report on Wednesday. Wedbush upped their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Redburn Atlantic upped their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Rosenblatt Securities increased their target price on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Amazon.com Company 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.