BlueSpruce Investments LP Cuts Stock Position in Amazon.com, Inc. $AMZN

BlueSpruce Investments LP reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 19.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,120,169 shares of the e-commerce giant’s stock after selling 509,234 shares during the quarter. Amazon.com accounts for approximately 10.8% of BlueSpruce Investments LP’s holdings, making the stock its 3rd biggest holding. BlueSpruce Investments LP’s holdings in Amazon.com were worth $465,144,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Barlow Wealth Partners Inc. boosted its holdings in Amazon.com by 0.4% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock valued at $2,763,000 after acquiring an additional 44 shares during the period. Ridgecrest Wealth Partners LLC increased its stake in Amazon.com by 0.5% in the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock worth $1,843,000 after purchasing an additional 45 shares during the period. Probity Advisors Inc. lifted its position in shares of Amazon.com by 0.4% during the second quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock worth $2,667,000 after purchasing an additional 45 shares during the last quarter. Union Savings Bank boosted its stake in shares of Amazon.com by 0.4% during the second quarter. Union Savings Bank now owns 10,723 shares of the e-commerce giant’s stock valued at $2,510,000 after purchasing an additional 45 shares during the period. Finally, Doheny Asset Management CA grew its holdings in shares of Amazon.com by 0.3% in the second quarter. Doheny Asset Management CA now owns 17,821 shares of the e-commerce giant’s stock worth $3,910,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James Financial lifted their price objective on shares of Amazon.com from $230.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Wolfe Research lifted their price target on shares of Amazon.com from $265.00 to $270.00 in a research note on Tuesday, September 30th. Rothschild Redb cut Amazon.com from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Stifel Nicolaus raised their price objective on Amazon.com from $269.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, BNP Paribas Exane began coverage on Amazon.com in a report on Monday, November 24th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $295.43.

Amazon.com Stock Down 1.8%

Shares of NASDAQ AMZN opened at $226.19 on Friday. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60. The stock’s fifty day simple moving average is $229.35 and its two-hundred day simple moving average is $224.73. The stock has a market capitalization of $2.42 trillion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The company has a current ratio of 1.01, a quick ratio of 0.80 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 for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. During the same period in the prior year, the business posted $1.43 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction dated 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 directly owned 2,208,310 shares in the company, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith Brian Alexander sold 900 shares of Amazon.com stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $233.00, for a total transaction of $209,700.00. Following the completion of the transaction, the director directly owned 7,170 shares in the company, valued at approximately $1,670,610. The trade was a 11.15% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 82,234 shares of company stock valued at $19,076,767. 9.70% of the stock is currently owned by corporate insiders.

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.