Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Peak Asset Management LLC

Peak Asset Management LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,559 shares of the e-commerce giant’s stock after selling 135 shares during the quarter. Peak Asset Management LLC’s holdings in Amazon.com were worth $4,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Legal & General Group Plc grew its position in Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the period. Bank of New York Mellon Corp grew its stake in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Amazon.com by 3.4% during the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock worth $7,917,906,000 after purchasing an additional 1,329,150 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Amazon.com by 1.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock worth $6,161,579,000 after purchasing an additional 464,938 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMZN shares. Roth Mkm upped their price target on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, December 9th. Oppenheimer upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Loop Capital boosted their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.00.

Amazon.com Stock Up 1.8 %

NASDAQ AMZN opened at $229.05 on Wednesday. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company has a market capitalization of $2.41 trillion, a P/E ratio of 49.05, a P/E/G ratio of 1.54 and a beta of 1.16. The stock has a 50 day moving average price of $206.58 and a 200-day moving average price of $191.74. 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 (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates 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 for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 5.29 EPS 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.