Cullen Investment Group LTD. Has $11.17 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cullen Investment Group LTD. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,969 shares of the e-commerce giant’s stock after selling 2,397 shares during the quarter. Amazon.com comprises 1.7% of Cullen Investment Group LTD.’s portfolio, making the stock its 12th biggest position. Cullen Investment Group LTD.’s holdings in Amazon.com were worth $11,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. PayPay Securities Corp grew its position in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Christopher J. Hasenberg Inc grew its position in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com in the 1st quarter valued at approximately $69,000. Innealta Capital LLC acquired a new position in shares of Amazon.com in the 2nd quarter valued at approximately $77,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Amazon.com by 84.7% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after purchasing an additional 199 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,855 shares of company stock worth $9,215,048 over the last ninety days. 10.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMZN. Piper Sandler boosted their target price on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company cut Amazon.com from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $225.00 to $183.00 in a research note on Monday, October 7th. TD Cowen boosted their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada boosted their target price on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Sanford C. Bernstein boosted their target price on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $244.11.

Amazon.com Price Performance

Amazon.com stock opened at $197.93 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.08 trillion, a PE ratio of 47.35, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. has a 12 month low of $136.47 and a 12 month high of $201.20. The stock has a 50-day moving average price of $184.82 and a two-hundred day moving average price of $183.75.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 4.84 EPS for the current 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.