Dock Street Asset Management Inc. cut its stake in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,483 shares of the e-commerce giant’s stock after selling 40,543 shares during the period. Amazon.com makes up about 8.2% of Dock Street Asset Management Inc.’s holdings, making the stock its 3rd largest holding. Dock Street Asset Management Inc.’s holdings in Amazon.com were worth $89,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in AMZN. Fairway Wealth LLC grew its position in shares of Amazon.com by 113.2% in the third quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant’s stock valued at $25,000 after purchasing an additional 60 shares in the last quarter. Sellwood Investment Partners LLC acquired a new position in Amazon.com in the third quarter valued at approximately $27,000. Bridge Generations Wealth Management LLC lifted its holdings in Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant’s stock valued at $53,000 after acquiring an additional 233 shares during the last quarter. Cooksen Wealth LLC lifted its holdings in Amazon.com by 23.5% in the second quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant’s stock valued at $54,000 after acquiring an additional 47 shares during the last quarter. Finally, PayPay Securities Corp lifted its holdings in Amazon.com by 62.3% in the third quarter. PayPay Securities Corp now owns 250 shares of the e-commerce giant’s stock valued at $55,000 after acquiring an additional 96 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Amazon.com
In other Amazon.com news, CEO Matthew S. Garman sold 17,751 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $205.22, for a total transaction of $3,642,860.22. Following the transaction, the chief executive officer directly owned 9,405 shares in the company, valued at $1,930,094.10. This represents a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Zapolsky sold 10,649 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $205.43, for a total value of $2,187,624.07. Following the transaction, the senior vice president owned 41,190 shares in the company, valued at $8,461,661.70. This trade represents a 20.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 72,686 shares of company stock valued at $14,899,239 over the last ninety days. 9.70% of the stock is owned by insiders.
Trending Headlines about Amazon.com
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Amazon.com Stock Up 5.6%
NASDAQ:AMZN opened at $233.65 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $211.98 and its two-hundred day moving average is $224.05. Amazon.com, Inc. has a 52 week low of $165.29 and a 52 week high of $258.60. The stock has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.38.
Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The e-commerce giant reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.02). Amazon.com had a return on equity of 21.87% and a net margin of 10.83%.The firm had revenue of $213.39 billion for the quarter, compared to analyst estimates of $211.02 billion. During the same quarter last year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on AMZN shares. Wall Street Zen cut Amazon.com from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley reiterated an “overweight” rating and issued a $300.00 price objective (down from $315.00) on shares of Amazon.com in a report on Friday, February 6th. Scotiabank reiterated an “outperform” rating and issued a $275.00 price objective (down from $300.00) on shares of Amazon.com in a report on Friday, February 6th. Daiwa Securities Group decreased their price objective on Amazon.com from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Finally, Raymond James Financial decreased their price objective on Amazon.com from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fifty-three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $287.39.
Get Our Latest Analysis on Amazon.com
Amazon.com Profile
Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.
Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.
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