South Street Advisors LLC Decreases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

South Street Advisors LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 19.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,993 shares of the e-commerce giant’s stock after selling 4,190 shares during the period. South Street Advisors LLC’s holdings in Amazon.com were worth $3,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% in the second 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 purchased a new stake in Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the third quarter worth $45,000. 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 worth $58,000 after buying an additional 260 shares during the period. Finally, Values First Advisors Inc. bought a new position in shares of Amazon.com in the 3rd quarter worth about $56,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen increased their target price on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Sanford C. Bernstein upped their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Moffett Nathanson raised their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI raised their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Stock Down 1.5 %

Shares of NASDAQ AMZN opened at $223.75 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a 50 day moving average price of $209.73 and a 200 day moving average price of $192.81. The firm has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 47.91, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted 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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. 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.