Amazon.com, Inc. (NASDAQ:AMZN) Stake Reduced by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,910 shares of the e-commerce giant’s stock after selling 2,415 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Amazon.com were worth $2,465,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new position in Amazon.com during the 1st quarter worth $228,000. Krane Funds Advisors LLC grew its stake in shares of Amazon.com by 239.1% in 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 bought a new position in shares of Amazon.com in the first quarter worth $258,000. My Personal CFO LLC bought a new position in shares of Amazon.com in the first quarter worth $261,000. Finally, Worth Asset Management LLC bought a new position in shares of Amazon.com in the first quarter worth $191,000. 57.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMZN. DA Davidson increased their price target on Amazon.com from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Susquehanna increased their price target on Amazon.com from $150.00 to $185.00 and gave the stock a “positive” rating in a research note on Friday, August 4th. Tigress Financial raised their target price on Amazon.com from $204.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 10th. HSBC initiated coverage on Amazon.com in a research note on Thursday, November 2nd. They set a “buy” rating and a $160.00 target price for the company. Finally, TD Cowen raised their target price on Amazon.com from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a hold rating and forty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.93.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $146.13 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.74 and a current ratio of 0.98. The firm has a market cap of $1.51 trillion, a price-to-earnings ratio of 75.72, a P/E/G ratio of 1.93 and a beta of 1.17. The business’s 50-day simple moving average is $133.78 and its 200-day simple moving average is $130.06. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $147.29.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 26th. The e-commerce giant reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.27. The business had revenue of $143.08 billion for the quarter, compared to analyst estimates of $141.53 billion. Amazon.com had a return on equity of 12.75% and a net margin of 3.62%. As a group, equities research analysts expect that Amazon.com, Inc. will post 2.6 earnings per share for the current fiscal year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $139.48, for a total value of $557,920.00. Following the sale, the chief executive officer now owns 526,316 shares of the company’s stock, valued at approximately $73,410,555.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $139.48, for a total value of $557,920.00. Following the sale, the chief executive officer now owns 526,316 shares of the company’s stock, valued at approximately $73,410,555.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 10,756 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $144.60, for a total value of $1,555,317.60. Following the completion of the sale, the chief executive officer now directly owns 117,904 shares in the company, valued at approximately $17,048,918.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,572 shares of company stock valued at $9,639,169. Insiders own 12.30% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.