Sky Investment Group LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sky Investment Group LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 22.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,605 shares of the e-commerce giant’s stock after purchasing an additional 5,796 shares during the period. Sky Investment Group LLC’s holdings in Amazon.com were worth $5,889,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Zhang Financial LLC lifted its position in shares of Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after acquiring an additional 5,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Amazon.com by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after purchasing an additional 14,766 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Amazon.com by 19.2% in the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after purchasing an additional 19,231 shares in the last quarter. Stonekeep Investments LLC acquired a new stake in shares of Amazon.com during the 2nd quarter worth about $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Amazon.com by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock worth $203,677,000 after buying an additional 654,908 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMZN. Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Evercore ISI increased their price target on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, DA Davidson restated a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.77.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction on 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 transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,011,423 shares of company stock valued at $1,249,093,896. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $197.12 on Friday. The stock’s 50 day moving average is $193.00 and its two-hundred day moving average is $186.31. Amazon.com, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90. The company has a market capitalization of $2.07 trillion, a PE ratio of 42.21, a P/E/G ratio of 1.33 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 (NASDAQ:AMZN) last issued its quarterly 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 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 analyst estimates of $157.28 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

About Amazon.com

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.