Gemmer Asset Management LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Gemmer Asset Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 16,228 shares of the e-commerce giant’s stock after selling 58 shares during the quarter. Gemmer Asset Management LLC’s holdings in Amazon.com were worth $3,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMZN. Foundations Investment Advisors LLC raised its holdings in Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares during the last quarter. Zhang Financial LLC increased its holdings 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 purchasing an additional 5,828 shares during the last quarter. BayBridge Capital Group LLC increased its holdings in shares of Amazon.com by 51.8% in the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after purchasing an additional 4,905 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after buying an additional 14,766 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Amazon.com by 19.2% during the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after buying an additional 19,231 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Maxim Group raised their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Redburn Atlantic increased their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Scotiabank raised their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.20.

Amazon.com Price Performance

Amazon.com stock opened at $210.71 on Tuesday. The stock has a market cap of $2.22 trillion, a P/E ratio of 45.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a fifty day simple moving average of $194.78 and a 200-day simple moving average of $186.94. 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 12-month low of $142.81 and a 12-month high of $215.90.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $157.28 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock valued at $1,252,148,795 over the last three months. 10.80% of the stock is owned by corporate insiders.

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.