WT Asset Management Ltd Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

WT Asset Management Ltd decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 96.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,000 shares of the e-commerce giant’s stock after selling 428,855 shares during the quarter. Amazon.com makes up about 0.5% of WT Asset Management Ltd’s investment portfolio, making the stock its 15th largest position. WT Asset Management Ltd’s holdings in Amazon.com were worth $2,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Human Investing LLC lifted its position in shares of Amazon.com by 28.6% during the third quarter. Human Investing LLC now owns 3,977 shares of the e-commerce giant’s stock worth $741,000 after purchasing an additional 885 shares in the last quarter. Sitrin Capital Management LLC increased its stake in Amazon.com by 5.5% during the 3rd quarter. Sitrin Capital Management LLC now owns 35,995 shares of the e-commerce giant’s stock worth $6,707,000 after buying an additional 1,867 shares during the period. Interchange Capital Partners LLC increased its stake in Amazon.com by 3.0% during the 3rd quarter. Interchange Capital Partners LLC now owns 24,778 shares of the e-commerce giant’s stock worth $4,618,000 after buying an additional 728 shares during the period. Values Added Financial LLC lifted its holdings in Amazon.com by 0.9% during the 3rd quarter. Values Added Financial LLC now owns 13,137 shares of the e-commerce giant’s stock worth $2,448,000 after buying an additional 111 shares in the last quarter. Finally, Lebenthal Global Advisors LLC grew its stake in shares of Amazon.com by 6.6% in the third quarter. Lebenthal Global Advisors LLC now owns 10,701 shares of the e-commerce giant’s stock worth $1,994,000 after acquiring an additional 663 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred 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 completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly 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. Over the last quarter, insiders sold 6,030,183 shares of company stock worth $1,252,883,795. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $227.03 on Monday. The firm has a fifty day simple moving average of $197.39 and a 200-day simple moving average of $188.15. The company has a market capitalization of $2.39 trillion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Amazon.com, Inc. has a twelve month low of $143.64 and a twelve month high of $227.15. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced 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 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 the consensus estimate of $157.28 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. DA Davidson reiterated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Oppenheimer lifted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JMP Securities upped their price target on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Moffett Nathanson raised their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. 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 data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $236.20.

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.