Spinnaker Investment Group LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Spinnaker Investment Group LLC decreased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the third quarter, Holdings Channel reports. The firm owned 6,458 shares of the e-commerce giant’s stock after selling 150 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Amazon.com were worth $1,203,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. BCS Wealth Management grew its holdings in shares of Amazon.com by 1.6% in the second quarter. BCS Wealth Management now owns 10,594 shares of the e-commerce giant’s stock valued at $2,047,000 after purchasing an additional 162 shares in the last quarter. James Hambro & Partners grew its stake in shares of Amazon.com by 2.0% in the second quarter. James Hambro & Partners now owns 589,671 shares of the e-commerce giant’s stock worth $114,025,000 after acquiring an additional 11,779 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Amazon.com by 2.1% during the second quarter. SJS Investment Consulting Inc. now owns 9,874 shares of the e-commerce giant’s stock worth $1,908,000 after acquiring an additional 205 shares during the period. Financial Insights Inc. raised its stake in shares of Amazon.com by 3.0% in the second quarter. Financial Insights Inc. now owns 27,234 shares of the e-commerce giant’s stock valued at $5,263,000 after acquiring an additional 803 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in Amazon.com by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 331,088 shares of the e-commerce giant’s stock valued at $63,983,000 after purchasing an additional 5,742 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at approximately $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by insiders.

Amazon.com Stock Performance

Amazon.com stock opened at $223.75 on Friday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The company has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 47.91, a PEG ratio of 1.54 and a beta of 1.16. The stock has a fifty day moving average of $209.73 and a two-hundred day moving average of $192.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

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. The firm had revenue of $158.88 billion during 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 firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. On average, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore ISI boosted their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen boosted their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Bank of America increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Tigress Financial boosted their target price on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Maxim Group increased their target price on Amazon.com from $251.00 to $260.00 and gave the company a “buy” 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus 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.