Essex Investment Management Co. LLC Sells 1,539 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Essex Investment Management Co. LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,022 shares of the e-commerce giant’s stock after selling 1,539 shares during the quarter. Amazon.com accounts for about 1.1% of Essex Investment Management Co. LLC’s portfolio, making the stock its 20th largest position. Essex Investment Management Co. LLC’s holdings in Amazon.com were worth $6,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. PayPay Securities Corp boosted its position in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP bought a new position in shares of Amazon.com during the third quarter valued at $37,000. Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com during the first quarter worth $69,000. Finally, Innealta Capital LLC bought a new stake in shares of Amazon.com in the second quarter worth $77,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $208.18 on Monday. The business’s fifty day moving average is $187.83 and its 200 day moving average is $184.66. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.58, a PEG ratio of 1.40 and a beta of 1.14. 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, Inc. has a 52-week low of $139.52 and a 52-week high of $212.25.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results 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. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. Research analysts predict that Amazon.com, Inc. will post 5.24 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on AMZN shares. Evercore ISI lifted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America lifted their price objective on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm increased their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Piper Sandler increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.55.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,859 shares of company stock valued at $10,215,097 in the last three months. Company insiders own 10.80% of the company’s stock.

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.