Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Sawgrass Asset Management LLC

Posted by Defense World Staff on Feb 25th, 2023

Sawgrass Asset Management LLC lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,508 shares of the e-commerce giant’s stock after selling 12,359 shares during the quarter. Amazon.com comprises about 3.4% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Sawgrass Asset Management LLC’s holdings in Amazon.com were worth $23,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AMZN. Rocky Mountain Advisers LLC boosted its position in shares of Amazon.com by 1,311.8% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 240 shares of the e-commerce giant’s stock valued at $25,000 after acquiring an additional 223 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in shares of Amazon.com by 4,540.0% in the second quarter. Iron Horse Wealth Management LLC now owns 232 shares of the e-commerce giant’s stock worth $25,000 after acquiring an additional 227 shares during the last quarter. Wells Financial Advisors INC raised its stake in shares of Amazon.com by 1,900.0% in the second quarter. Wells Financial Advisors INC now owns 280 shares of the e-commerce giant’s stock worth $30,000 after acquiring an additional 266 shares during the last quarter. Knott David M Jr bought a new position in shares of Amazon.com in the second quarter worth about $32,000. Finally, Laurel Wealth Planning LLC raised its stake in shares of Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after buying an additional 304 shares during the last quarter. Institutional investors own 57.64% of the company’s stock.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total value of $332,185.00. Following the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $11,368,319.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total transaction of $332,185.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian T. Olsavsky sold 16,760 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $95.25, for a total value of $1,596,390.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $4,667,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,394 shares of company stock worth $6,619,426. Corporate insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AMZN. Roth Capital reaffirmed a “buy” rating on shares of Amazon.com in a research note on Friday, February 3rd. Truist Financial reduced their target price on shares of Amazon.com from $160.00 to $142.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Erste Group Bank cut shares of Amazon.com from a “buy” rating to a “hold” rating in a report on Friday, November 18th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Amazon.com in a research report on Friday, February 3rd. Finally, Monness Crespi & Hardt dropped their price objective on shares of Amazon.com from $172.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.87.

Amazon.com Price Performance

AMZN stock opened at $93.50 on Friday. The business has a fifty day moving average of $94.10 and a two-hundred day moving average of $106.30. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $958.12 billion, a price-to-earnings ratio of -348.87, a price-to-earnings-growth ratio of 3.82 and a beta of 1.22. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The company had revenue of $149.20 billion during the quarter, compared to analysts’ expectations of $145.72 billion. Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 1.38 earnings per share for the current year.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.