TenCore Partners LP Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

TenCore Partners LP decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 19.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,673 shares of the e-commerce giant’s stock after selling 12,820 shares during the quarter. Amazon.com comprises approximately 4.6% of TenCore Partners LP’s investment portfolio, making the stock its 8th largest position. TenCore Partners LP’s holdings in Amazon.com were worth $9,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after purchasing an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after buying an additional 1,980,663 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 trade represents a 4.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were 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 $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, 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.

Amazon.com Trading Down 1.4 %

Shares of AMZN stock opened at $218.94 on Monday. 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 firm has a market cap of $2.30 trillion, a P/E ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14. The company has a 50 day moving average of $216.20 and a 200-day moving average of $195.42. Amazon.com, Inc. has a 12-month low of $149.91 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business 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 business posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on AMZN shares. Benchmark raised their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their price target on shares of Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Roth Mkm increased their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird raised their target price on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Wolfe Research upped their price target on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $243.67.

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.