Aspen Investment Management Inc Sells 3,273 Shares of Amazon.com, Inc. $AMZN

Aspen Investment Management Inc lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,954 shares of the e-commerce giant’s stock after selling 3,273 shares during the period. Amazon.com accounts for 1.2% of Aspen Investment Management Inc’s investment portfolio, making the stock its 18th biggest position. Aspen Investment Management Inc’s holdings in Amazon.com were worth $2,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Carderock Capital Management Inc. bought a new position in Amazon.com during the 2nd quarter valued at approximately $27,000. Maryland Capital Advisors Inc. raised its holdings in shares of Amazon.com by 81.9% during the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 95 shares in the last quarter. Ryan Investment Management Inc. purchased a new stake in Amazon.com in the second quarter worth $48,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Amazon.com in the first quarter valued at $59,000. Finally, Access Investment Management LLC purchased a new position in Amazon.com during the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMZN. President Capital raised their target price on shares of Amazon.com from $280.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Rosenblatt Securities restated a “buy” rating and issued a $305.00 price objective on shares of Amazon.com in a report on Tuesday, November 25th. Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a report on Monday, October 20th. UBS Group set a $310.00 target price on Amazon.com in a research note on Friday, October 31st. Finally, Pivotal Research lifted their price target on Amazon.com from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $296.11.

Amazon.com Stock Up 0.2%

Shares of NASDAQ:AMZN opened at $234.42 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $227.92 and a two-hundred day simple moving average of $223.55. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60. The stock has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.61 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.38. The firm had revenue of $180.17 billion during the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The company’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. On average, research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $226.61, for a total value of $280,316.57. Following the completion of the transaction, the director directly owned 26,148 shares in the company, valued at $5,925,398.28. The trade was a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $216.94, for a total value of $4,311,031.68. Following the sale, the chief executive officer owned 2,208,310 shares in the company, valued at approximately $479,070,771.40. This represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 79,734 shares of company stock valued at $18,493,717. 10.80% of the stock is owned by company insiders.

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.