Connable Office Inc. Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Connable Office Inc. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,758 shares of the e-commerce giant’s stock after selling 306 shares during the quarter. Amazon.com accounts for about 0.7% of Connable Office Inc.’s investment portfolio, making the stock its 23rd biggest position. Connable Office Inc.’s holdings in Amazon.com were worth $6,663,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP bought a new stake in shares of Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the 3rd quarter worth approximately $45,000. Values First Advisors Inc. bought a new position in Amazon.com in the third quarter worth approximately $56,000. Finally, Christopher J. Hasenberg Inc lifted its holdings 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 worth $58,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $229.05 on Thursday. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $233.00. 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 cap of $2.41 trillion, a P/E ratio of 49.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The business’s fifty day moving average is $207.40 and its 200-day moving average is $192.05.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm 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 business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last quarter. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMZN shares. TD Cowen upped their target price on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Tigress Financial upped their target price on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Evercore ISI boosted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two 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, the company currently has an average rating of “Moderate Buy” and an average price target of $243.00.

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.