Pacific Sage Partners LLC Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Pacific Sage Partners LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 60,190 shares of the e-commerce giant’s stock after selling 149 shares during the period. Amazon.com makes up approximately 2.7% of Pacific Sage Partners LLC’s holdings, making the stock its 8th biggest holding. Pacific Sage Partners LLC’s holdings in Amazon.com were worth $11,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after purchasing an additional 43,759 shares in the last quarter. Quent Capital LLC raised its stake in Amazon.com by 3.3% in the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock valued at $6,084,000 after buying an additional 1,081 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in Amazon.com by 2.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 201,591 shares of the e-commerce giant’s stock valued at $36,363,000 after buying an additional 4,659 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Amazon.com by 3.7% in the first quarter. Gamco Investors INC. ET AL now owns 153,659 shares of the e-commerce giant’s stock worth $27,717,000 after purchasing an additional 5,494 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Amazon.com by 0.4% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 22,950 shares of the e-commerce giant’s stock worth $4,140,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, 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 have sold 6,030,183 shares of company stock worth $1,252,883,795. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMZN shares. Scotiabank lifted their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price objective on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 1st. JMP Securities raised their price objective on Amazon.com from $265.00 to $285.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Moffett Nathanson raised their price objective on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada raised their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Price Performance

NASDAQ:AMZN opened at $227.03 on Friday. Amazon.com, Inc. has a 52 week low of $143.64 and a 52 week high of $227.15. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.39 trillion, a P/E ratio of 48.61, a P/E/G ratio of 1.46 and a beta of 1.16. The stock’s fifty day moving average is $197.39 and its two-hundred day moving average is $188.12.

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

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.