Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Riversedge Advisors LLC

Riversedge Advisors LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,014 shares of the e-commerce giant’s stock after selling 156 shares during the quarter. Riversedge Advisors LLC’s holdings in Amazon.com were worth $1,121,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Cumberland Advisors Inc. increased its holdings in Amazon.com by 6.6% in the 3rd quarter. Cumberland Advisors Inc. now owns 9,680 shares of the e-commerce giant’s stock valued at $1,804,000 after purchasing an additional 600 shares in the last quarter. Inlet Private Wealth LLC boosted its position in shares of Amazon.com by 19.8% in the third quarter. Inlet Private Wealth LLC now owns 7,849 shares of the e-commerce giant’s stock worth $1,463,000 after buying an additional 1,295 shares during the period. Global Retirement Partners LLC boosted its position in shares of Amazon.com by 2.0% in the third quarter. Global Retirement Partners LLC now owns 156,167 shares of the e-commerce giant’s stock worth $29,099,000 after buying an additional 3,078 shares during the period. Mitchell & Pahl Private Wealth LLC grew its stake in shares of Amazon.com by 77.1% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 2,665 shares of the e-commerce giant’s stock valued at $497,000 after buying an additional 1,160 shares in the last quarter. Finally, Good Life Advisors LLC raised its holdings in shares of Amazon.com by 12.4% during the 3rd quarter. Good Life Advisors LLC now owns 84,579 shares of the e-commerce giant’s stock valued at $15,760,000 after buying an additional 9,299 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt raised their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Maxim Group lifted their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.45.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the transaction, the insider now owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This represents a 22.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,053,349 shares of company stock worth $1,256,503,289 in the last three months. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Down 4.2 %

AMZN stock opened at $202.61 on Friday. The stock has a market cap of $2.13 trillion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. The firm’s 50-day simple moving average is $191.16 and its 200 day simple moving average is $185.69. Amazon.com, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $215.90. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that Amazon.com, Inc. will post 5.27 EPS for the current year.

Amazon.com Profile

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.