Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Israel Discount Bank of New York

Posted by on Mar 11th, 2023

Israel Discount Bank of New York lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,252 shares of the e-commerce giant’s stock after selling 1,512 shares during the period. Amazon.com makes up 1.4% of Israel Discount Bank of New York’s portfolio, making the stock its 19th biggest position. Israel Discount Bank of New York’s holdings in Amazon.com were worth $1,723,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after acquiring an additional 310,134,486 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after acquiring an additional 295,880,050 shares during the period. FMR LLC increased its holdings in shares of Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares during the period. Northern Trust Corp increased its stake in Amazon.com by 1,867.0% during the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after buying an additional 90,167,792 shares during the period. Finally, Legal & General Group Plc increased its stake in Amazon.com by 1,944.4% during the 2nd quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after buying an additional 57,043,701 shares during the period. Institutional investors and hedge funds own 57.64% of the company’s stock.

Insider Activity

In other news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the sale, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the sale, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,500 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 119,780 shares in the company, valued at approximately $11,368,319.80. The disclosure for this sale can be found here. Insiders have sold a total of 71,394 shares of company stock valued at $6,994,626 over the last 90 days. 12.70% of the stock is currently owned by company insiders.

Amazon.com Trading Down 1.6 %

NASDAQ:AMZN opened at $90.73 on Friday. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $170.83. The firm has a market cap of $929.73 billion, a price-to-earnings ratio of -338.53, a P/E/G ratio of 3.87 and a beta of 1.25. 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 company’s 50 day moving average is $95.85 and its 200-day moving average is $102.99.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly 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). Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The firm had revenue of $149.20 billion during the quarter, compared to the consensus estimate of $145.72 billion. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on AMZN. Credit Suisse Group raised their target price on shares of Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Susquehanna raised their target price on shares of Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Friday, February 3rd. Wolfe Research raised their target price on shares of Amazon.com from $115.00 to $130.00 in a research note on Friday, February 3rd. Cowen raised their target price on shares of Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, December 1st. Finally, Piper Sandler raised their target price on shares of Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Two equities research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.87.

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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