Fernbridge Capital Management LP Sells 46,366 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Fernbridge Capital Management LP reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 652,187 shares of the e-commerce giant’s stock after selling 46,366 shares during the period. Amazon.com comprises 7.5% of Fernbridge Capital Management LP’s portfolio, making the stock its 3rd largest position. Fernbridge Capital Management LP’s holdings in Amazon.com were worth $121,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Semus Wealth Partners LLC raised its stake in shares of Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after buying an additional 49 shares in the last quarter. O Connor Financial Group LLC lifted its holdings in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC lifted its stake in Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares in the last quarter. Cedar Point Capital Partners LLC boosted its stake in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares during the period. Finally, West Wealth Group LLC raised its stake in Amazon.com by 0.4% during the 2nd quarter. West Wealth Group LLC now owns 13,144 shares of the e-commerce giant’s stock valued at $2,540,000 after purchasing an additional 57 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’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 completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

AMZN has been the subject of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research report on Tuesday, December 3rd. Monness Crespi & Hardt upped their target price on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Sanford C. Bernstein raised their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley raised their price objective on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Price Performance

NASDAQ:AMZN opened at $227.61 on Tuesday. The firm has a market cap of $2.39 trillion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company’s 50-day moving average price is $213.85 and its two-hundred day moving average price is $194.50. 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, Inc. has a 12 month low of $146.15 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued 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. The business 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 firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Amazon.com Company 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.