Inverness Counsel LLC NY Purchases 3,669 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Inverness Counsel LLC NY boosted its position in Amazon.com, Inc. (NASDAQ:AMZNGet Rating) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 511,943 shares of the e-commerce giant’s stock after acquiring an additional 3,669 shares during the quarter. Amazon.com accounts for 3.2% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 7th biggest position. Inverness Counsel LLC NY’s holdings in Amazon.com were worth $57,850,000 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 the company. Bridgefront Capital LLC acquired a new position in shares of Amazon.com during the first quarter worth about $228,000. Krane Funds Advisors LLC lifted its stake in shares of Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares in the last quarter. Range Financial Group LLC acquired a new position in shares of Amazon.com during the first quarter worth about $258,000. My Personal CFO LLC acquired a new position in shares of Amazon.com during the first quarter worth about $261,000. Finally, Worth Asset Management LLC acquired a new position in shares of Amazon.com during the first quarter worth about $191,000. Institutional investors and hedge funds own 57.64% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $97.25 on Friday. The stock has a market capitalization of $992.11 billion, a P/E ratio of 89.26, a P/E/G ratio of 3.09 and a beta of 1.22. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $170.83. The business’s fifty day moving average is $90.72 and its two-hundred day moving average is $110.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.94.

Amazon.com (NASDAQ:AMZNGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The e-commerce giant reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $127.10 billion during the quarter, compared to the consensus estimate of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. Amazon.com’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. On average, research analysts forecast that Amazon.com, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 7,456 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $700,864.00. Following the sale, the chief executive officer now directly owns 533,435 shares of the company’s stock, valued at approximately $50,142,890. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 345 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $102.00, for a total transaction of $35,190.00. Following the sale, the chief executive officer now directly owns 112,795 shares of the company’s stock, valued at approximately $11,505,090. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 7,456 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $94.00, for a total transaction of $700,864.00. Following the sale, the chief executive officer now directly owns 533,435 shares in the company, valued at $50,142,890. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,428 shares of company stock valued at $5,077,578. Corporate insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Raymond James reduced their price objective on Amazon.com from $164.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Wolfe Research dropped their target price on Amazon.com from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Benchmark dropped their target price on Amazon.com from $160.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Needham & Company LLC dropped their target price on Amazon.com from $175.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Finally, Oppenheimer dropped their target price on Amazon.com from $165.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.87.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North American-focused websites such as www.amazon.com and www.amazon.ca.

Further Reading

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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