Amazon.com, Inc. $AMZN Stake Reduced by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,157 shares of the e-commerce giant’s stock after selling 6,779 shares during the quarter. Amazon.com makes up approximately 3.4% of Destiny Wealth Partners LLC’s portfolio, making the stock its 5th biggest position. Destiny Wealth Partners LLC’s holdings in Amazon.com were worth $27,700,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMZN. ARS Wealth Advisors Group LLC boosted its position in Amazon.com by 2.5% during the 3rd quarter. ARS Wealth Advisors Group LLC now owns 156,440 shares of the e-commerce giant’s stock valued at $34,349,000 after buying an additional 3,849 shares during the period. Keb Asset Management LLC raised its stake in shares of Amazon.com by 35.6% during the third quarter. Keb Asset Management LLC now owns 3,145 shares of the e-commerce giant’s stock valued at $691,000 after acquiring an additional 826 shares during the last quarter. Exeter Financial LLC boosted its holdings in shares of Amazon.com by 5.0% during the third quarter. Exeter Financial LLC now owns 5,411 shares of the e-commerce giant’s stock worth $1,188,000 after purchasing an additional 259 shares during the period. Moody National Bank Trust Division grew its stake in shares of Amazon.com by 0.9% in the third quarter. Moody National Bank Trust Division now owns 105,664 shares of the e-commerce giant’s stock worth $23,201,000 after purchasing an additional 920 shares during the last quarter. Finally, Boston Standard Wealth Management LLC grew its stake in shares of Amazon.com by 4.7% in the third quarter. Boston Standard Wealth Management LLC now owns 1,665 shares of the e-commerce giant’s stock worth $366,000 after purchasing an additional 74 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Keith Brian Alexander sold 900 shares of Amazon.com stock in a transaction on Monday, November 17th. The stock was sold at an average price of $233.00, for a total value of $209,700.00. Following the completion of the sale, the director owned 7,170 shares of the company’s stock, valued at $1,670,610. The trade was a 11.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $226.61, for a total transaction of $280,316.57. Following the sale, the director directly owned 26,148 shares of the company’s stock, valued at $5,925,398.28. The trade was a 4.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,234 shares of company stock worth $19,076,767 in the last 90 days. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMZN. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective (up previously from $292.00) on shares of Amazon.com in a report on Tuesday, December 2nd. Evercore ISI raised their price target on Amazon.com from $280.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Robert W. Baird set a $285.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a research report on Friday, October 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Amazon.com in a report on Wednesday, December 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $315.00 target price (up previously from $300.00) on shares of Amazon.com in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $295.50.

Amazon.com Stock Performance

Amazon.com stock opened at $226.76 on Friday. Amazon.com, Inc. has a twelve month low of $161.38 and a twelve month 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. The company has a market capitalization of $2.42 trillion, a P/E ratio of 32.03, a PEG ratio of 1.52 and a beta of 1.37. The stock’s 50 day moving average is $229.30 and its 200 day moving average is $225.24.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $177.53 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share 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.