Amazon.com, Inc. (NASDAQ:AMZN) is Sitrin Capital Management LLC’s 10th Largest Position

Sitrin Capital Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 35,995 shares of the e-commerce giant’s stock after purchasing an additional 1,867 shares during the quarter. Amazon.com comprises approximately 3.4% of Sitrin Capital Management LLC’s holdings, making the stock its 10th largest holding. Sitrin Capital Management LLC’s holdings in Amazon.com were worth $6,707,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMZN. International Assets Investment Management LLC boosted its holdings in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Swedbank AB purchased a new position in Amazon.com in the 1st quarter worth approximately $2,239,757,000. Strategic Financial Concepts LLC boosted its holdings in Amazon.com by 13,606.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after acquiring an additional 3,903,889 shares during the period. Wulff Hansen & CO. boosted its holdings in Amazon.com by 20,517.4% in the 2nd quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after acquiring an additional 3,865,485 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its holdings in Amazon.com by 6,590.8% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 2,353,894 shares of the e-commerce giant’s stock worth $432,394,000 after acquiring an additional 2,318,713 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % 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, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,030,183 shares of company stock valued at $1,252,883,795. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMZN shares. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a report on Wednesday. Pivotal Research started coverage on Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target for the company. TD Cowen upped their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial upped their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.20.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $227.03 on Friday. Amazon.com, Inc. has a 1-year low of $143.64 and a 1-year high of $227.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business’s fifty day moving average price is $197.39 and its two-hundred day moving average price is $188.12. The firm has a market capitalization of $2.39 trillion, a PE ratio of 48.61, a P/E/G ratio of 1.46 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts expect that Amazon.com, Inc. will post 5.29 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.