Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Highland Capital Management LLC

Posted by Defense World Staff on Feb 28th, 2023

Highland Capital Management LLC decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 188,894 shares of the e-commerce giant’s stock after selling 1,356 shares during the period. Amazon.com makes up approximately 1.6% of Highland Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Highland Capital Management LLC’s holdings in Amazon.com were worth $21,345,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Amazon.com by 14.2% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 62,459 shares of the e-commerce giant’s stock valued at $7,058,000 after acquiring an additional 7,788 shares during the last quarter. Korea Investment CORP raised its holdings in Amazon.com by 4.8% in the 3rd quarter. Korea Investment CORP now owns 9,091,885 shares of the e-commerce giant’s stock valued at $1,027,383,000 after acquiring an additional 413,485 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Amazon.com by 3.7% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,613,560 shares of the e-commerce giant’s stock valued at $860,333,000 after buying an additional 274,711 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of Amazon.com by 2.5% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 636,417 shares of the e-commerce giant’s stock valued at $71,915,000 after buying an additional 15,426 shares during the period. Finally, Westchester Capital Management Inc. grew its stake in shares of Amazon.com by 2.8% in the 3rd quarter. Westchester Capital Management Inc. now owns 26,055 shares of the e-commerce giant’s stock valued at $2,944,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 57.64% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several analyst reports. New Street Research initiated coverage on shares of Amazon.com in a research note on Wednesday, January 4th. They issued a “buy” rating and a $130.00 price target for the company. Benchmark increased their price target on shares of Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Truist Financial dropped their price target on shares of Amazon.com from $160.00 to $142.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Tigress Financial reissued a “buy” rating and issued a $192.00 price target on shares of Amazon.com in a research note on Thursday, February 9th. Finally, Piper Sandler increased their price objective on shares of Amazon.com from $119.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $93.76 on Tuesday. The company’s fifty day moving average price is $94.28 and its 200 day moving average price is $105.50. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $170.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.72. The firm has a market capitalization of $960.78 billion, a P/E ratio of -349.84, a P/E/G ratio of 3.85 and a beta of 1.22.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The business had revenue of $149.20 billion for the quarter, compared to analysts’ expectations of $145.72 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $102.90, for a total transaction of $411,600.00. Following the transaction, the chief executive officer now directly owns 529,435 shares of the company’s stock, valued at approximately $54,478,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total transaction of $568,293.00. Following the transaction, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at approximately $13,837,377.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $102.90, for a total transaction of $411,600.00. Following the transaction, the chief executive officer now directly owns 529,435 shares in the company, valued at $54,478,861.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,394 shares of company stock valued at $6,619,426. Insiders own 12.70% of the company’s stock.

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.