Stonekeep Investments LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Stonekeep Investments LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,457 shares of the e-commerce giant’s stock after selling 525 shares during the quarter. Amazon.com makes up approximately 2.2% of Stonekeep Investments LLC’s portfolio, making the stock its 11th biggest position. Stonekeep Investments LLC’s holdings in Amazon.com were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of AMZN. International Assets Investment Management LLC increased its position in shares of Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the last quarter. Parnassus Investments LLC raised its position in Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the period. State Street Corp lifted its stake 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 worth $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC lifted its stake in Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in shares of Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after buying an additional 3,903,889 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Up 1.3 %

Shares of AMZN stock opened at $237.68 on Friday. The firm’s fifty day moving average price is $223.02 and its two-hundred day moving average price is $198.55. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $241.77. The firm has a market capitalization of $2.50 trillion, a P/E ratio of 50.90, a PEG ratio of 1.35 and a beta of 1.14.

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. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations 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 was up 11.0% on a year-over-year basis. During the same period last year, the business earned $0.85 earnings per share. On average, equities analysts predict that Amazon.com, Inc. will post 5.3 EPS for the current fiscal year.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,027,340 shares of company stock valued at $1,252,456,773 over the last three months. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Tigress Financial increased their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Bank of America boosted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Loop Capital lifted their target price on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Truist Financial upped their price target on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, DA Davidson reiterated a “buy” rating and set a $235.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $250.33.

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.