Studio Investment Management LLC Sells 588 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Studio Investment Management LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,170 shares of the e-commerce giant’s stock after selling 588 shares during the quarter. Studio Investment Management LLC’s holdings in Amazon.com were worth $2,545,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cooksen Wealth LLC bought a new stake in Amazon.com in the fourth quarter valued at $30,000. PayPay Securities Corp boosted its holdings in Amazon.com by 64.6% in the second 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. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter valued at $46,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. Finally, Steph & Co. bought a new stake in shares of Amazon.com during the 1st quarter valued at $65,000. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is owned by company insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $188.82 on Friday. The company has a 50-day moving average price of $179.58 and a 200-day moving average price of $183.14. The firm has a market capitalization of $1.98 trillion, a P/E ratio of 45.17, a PEG ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities research analysts anticipate that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

Analysts Set New Price Targets

AMZN has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Roth Mkm boosted their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial boosted their target price on shares of Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 30th. Telsey Advisory Group restated an “outperform” rating and set a $215.00 target price on shares of Amazon.com in a report on Thursday. Finally, UBS Group boosted their target price on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $224.00.

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.