KPP Advisory Services LLC Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

KPP Advisory Services LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,414 shares of the e-commerce giant’s stock after selling 61 shares during the period. Amazon.com accounts for 1.7% of KPP Advisory Services LLC’s portfolio, making the stock its 12th biggest position. KPP Advisory Services LLC’s holdings in Amazon.com were worth $6,971,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baxter Bros Inc. increased its holdings in shares of Amazon.com by 1.0% in the 2nd quarter. Baxter Bros Inc. now owns 28,882 shares of the e-commerce giant’s stock valued at $5,581,000 after acquiring an additional 281 shares during the period. Brendel Financial Advisors LLC boosted its position in Amazon.com by 501.7% during the second quarter. Brendel Financial Advisors LLC now owns 12,101 shares of the e-commerce giant’s stock valued at $2,339,000 after purchasing an additional 10,090 shares in the last quarter. Wedmont Private Capital boosted its position in Amazon.com by 9.2% during the second quarter. Wedmont Private Capital now owns 123,255 shares of the e-commerce giant’s stock valued at $23,972,000 after purchasing an additional 10,385 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in Amazon.com by 3.9% in the second quarter. Roman Butler Fullerton & Co. now owns 62,220 shares of the e-commerce giant’s stock valued at $12,431,000 after purchasing an additional 2,316 shares during the last quarter. Finally, JBR Co Financial Management Inc raised its holdings in Amazon.com by 0.9% in the second quarter. JBR Co Financial Management Inc now owns 10,546 shares of the e-commerce giant’s stock worth $2,038,000 after purchasing an additional 90 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Mizuho raised their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Robert W. Baird upped their price target on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley raised their price objective on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Tigress Financial boosted their target price on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Stock Performance

AMZN opened at $227.05 on Friday. The firm’s fifty day simple moving average is $209.04 and its two-hundred day simple moving average is $192.55. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the company posted $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

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.