Prudent Investors Network Inc. Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Prudent Investors Network Inc. trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,818 shares of the e-commerce giant’s stock after selling 4,623 shares during the period. Amazon.com comprises 3.2% of Prudent Investors Network Inc.’s investment portfolio, making the stock its 15th largest position. Prudent Investors Network Inc.’s holdings in Amazon.com were worth $10,401,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMZN. Foundations Investment Advisors LLC increased its stake 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 worth $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank increased its stake in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. Zhang Financial LLC increased its stake in Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the period. BayBridge Capital Group LLC increased its stake in Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock worth $2,677,000 after purchasing an additional 4,905 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased 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 worth $550,217,000 after purchasing an additional 14,766 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the 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 transaction, the director now directly owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Down 0.7 %

Amazon.com stock opened at $227.46 on Monday. The stock has a market cap of $2.39 trillion, a PE ratio of 48.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $231.20. The stock has a fifty day moving average of $201.65 and a 200 day moving average of $189.78.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMZN shares. Scotiabank lifted their price objective on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Maxim Group lifted their price objective on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt lifted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush lifted their price objective on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $238.87.

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.