Redwood Investment Management LLC Sells 25,470 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Redwood Investment Management LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 72.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,512 shares of the e-commerce giant’s stock after selling 25,470 shares during the period. Redwood Investment Management LLC’s holdings in Amazon.com were worth $1,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMZN. Diversified LLC lifted its position in Amazon.com by 38.3% during the second quarter. Diversified LLC now owns 10,471 shares of the e-commerce giant’s stock valued at $2,024,000 after buying an additional 2,899 shares during the period. Secure Asset Management LLC lifted its position in Amazon.com by 16.3% during the second quarter. Secure Asset Management LLC now owns 45,957 shares of the e-commerce giant’s stock valued at $8,881,000 after buying an additional 6,444 shares during the period. Spinnaker Investment Group LLC lifted its position in Amazon.com by 34.3% during the second quarter. Spinnaker Investment Group LLC now owns 6,608 shares of the e-commerce giant’s stock valued at $1,277,000 after buying an additional 1,687 shares during the period. Mcrae Capital Management Inc. lifted its position in Amazon.com by 21.1% during the second quarter. Mcrae Capital Management Inc. now owns 2,435 shares of the e-commerce giant’s stock valued at $471,000 after buying an additional 425 shares during the period. Finally, American Financial Advisors LLC raised its position in shares of Amazon.com by 1.4% in the 2nd quarter. American Financial Advisors LLC now owns 28,744 shares of the e-commerce giant’s stock worth $5,555,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wedbush lifted their price target on Amazon.com from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Pivotal Research assumed coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target for the company. Sanford C. Bernstein lifted their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Roth Mkm lifted their price target on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, TD Cowen lifted their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.67.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. This represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 1.4 %

NASDAQ AMZN opened at $218.94 on Friday. The stock’s 50 day moving average is $216.20 and its 200 day moving average is $195.41. 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 $149.91 and a 12 month high of $233.00. The stock has a market cap of $2.30 trillion, a PE ratio of 46.88, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Research 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.