Baupost Group LLC MA Sells 350,000 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 9th, 2023

Baupost Group LLC MA reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 58.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,000 shares of the e-commerce giant’s stock after selling 350,000 shares during the quarter. Amazon.com comprises 0.5% of Baupost Group LLC MA’s holdings, making the stock its 27th largest position. Baupost Group LLC MA’s holdings in Amazon.com were worth $28,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AMZN. Fiduciary Planning LLC increased its stake in Amazon.com by 1.5% in the first quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after purchasing an additional 5 shares during the period. HBC Financial Services PLLC lifted its stake in Amazon.com by 0.8% in the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after acquiring an additional 5 shares during the period. Meridian Investment Counsel Inc. grew its holdings in Amazon.com by 3.4% during the 1st quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after acquiring an additional 5 shares in the last quarter. Alterna Wealth Management Inc. increased its position in Amazon.com by 1.8% during the 1st quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $942,000 after purchasing an additional 5 shares during the period. Finally, Archetype Wealth Partners raised its holdings in shares of Amazon.com by 3.7% in the 1st quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock valued at $552,000 after purchasing an additional 6 shares in the last quarter. 57.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent research reports. Benchmark boosted their price objective on shares of Amazon.com from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. The Goldman Sachs Group lowered their price objective on Amazon.com from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, January 13th. DA Davidson raised their price target on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Robert W. Baird increased their price objective on shares of Amazon.com from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, Erste Group Bank cut shares of Amazon.com from a “buy” rating to a “hold” rating in a report on Friday, November 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have given a buy rating to the stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $144.87.

Amazon.com Trading Up 0.4 %

NASDAQ:AMZN opened at $93.92 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83. The stock’s 50 day moving average price is $95.55 and its 200 day moving average price is $103.36. The company has a market capitalization of $962.42 billion, a PE ratio of -350.43, a P/E/G ratio of 3.87 and a beta of 1.25.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The business had revenue of $149.20 billion during the quarter, compared to analyst estimates of $145.72 billion. Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, research analysts anticipate that Amazon.com, Inc. will post 1.34 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, VP Shelley Reynolds sold 3,500 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $11,368,319.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Adam Selipsky sold 5,100 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the transaction, the chief executive officer now owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,500 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total value of $332,185.00. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,394 shares of company stock worth $6,994,626. 12.70% of the stock is owned by company insiders.

Amazon.com 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.