Valley Financial Group Inc. Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Valley Financial Group Inc. lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,812 shares of the e-commerce giant’s stock after selling 142 shares during the period. Valley Financial Group Inc.’s holdings in Amazon.com were worth $338,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC lifted its holdings in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares during the last quarter. PayPay Securities Corp raised its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com in the third quarter worth $45,000. Finally, Values First Advisors Inc. acquired a new position in Amazon.com in the third quarter worth $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMZN. Truist Financial raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Redburn Atlantic raised their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Wolfe Research increased their price target on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Monness Crespi & Hardt raised their price target on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Roth Mkm upped their price objective on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Stock Up 0.0 %

Shares of AMZN stock opened at $222.13 on Friday. The stock has a 50 day moving average of $215.78 and a 200-day moving average of $195.11. The firm has a market cap of $2.34 trillion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. 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, Inc. has a 12 month low of $148.21 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last released 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 net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Amazon.com Company 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.