Connective Capital Management LLC Cuts Holdings in Amazon.com, Inc. $AMZN

Connective Capital Management LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 54.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,023 shares of the e-commerce giant’s stock after selling 12,008 shares during the quarter. Amazon.com accounts for 2.1% of Connective Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Connective Capital Management LLC’s holdings in Amazon.com were worth $2,199,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Carderock Capital Management Inc. bought a new stake in Amazon.com in the 2nd quarter worth approximately $27,000. Maryland Capital Advisors Inc. lifted its holdings in shares of Amazon.com by 81.9% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 95 shares during the last quarter. Ryan Investment Management Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at $48,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Amazon.com during the 1st quarter valued at $59,000. Finally, Access Investment Management LLC bought a new position in shares of Amazon.com during the 2nd quarter valued at $74,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

Shares of AMZN stock opened at $231.78 on Thursday. The firm has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.57 and a beta of 1.37. The stock has a fifty day moving average of $229.06 and a 200 day moving average of $224.52. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $258.60. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on AMZN shares. William Blair restated an “outperform” rating on shares of Amazon.com in a research report on Monday, November 3rd. CIBC increased their target price on Amazon.com to $315.00 in a report on Monday, October 20th. Loop Capital lifted their price target on Amazon.com from $300.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Susquehanna set a $300.00 price objective on Amazon.com and gave the company a “positive” rating in a research report on Friday, October 31st. Finally, BNP Paribas initiated coverage on shares of Amazon.com in a report on Monday, November 24th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fifty-seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $295.43.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $216.94, for a total transaction of $4,311,031.68. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 22,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $250.03, for a total value of $5,500,660.00. Following the completion of the transaction, the chief executive officer directly owned 493,507 shares of the company’s stock, valued at $123,391,555.21. This represents a 4.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,234 shares of company stock valued at $19,076,767 over the last three months. Corporate insiders own 9.70% 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.