Financial Advocates Investment Management cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 13.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,008 shares of the e-commerce giant’s stock after selling 17,834 shares during the quarter. Amazon.com comprises approximately 1.0% of Financial Advocates Investment Management’s portfolio, making the stock its 11th biggest holding. Financial Advocates Investment Management’s holdings in Amazon.com were worth $12,641,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the business. Kavar Capital Partners Group LLC raised its holdings in shares of Amazon.com by 7.6% in the 1st quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after purchasing an additional 79 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Amazon.com by 21.8% in the 1st quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock worth $237,686,000 after purchasing an additional 13,060 shares during the period. Ironwood Wealth Management LLC. raised its holdings in shares of Amazon.com by 0.8% in the 1st quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock worth $5,901,000 after purchasing an additional 15 shares during the period. Markel Corp raised its holdings in shares of Amazon.com by 0.6% in the 1st quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock worth $322,956,000 after purchasing an additional 550 shares during the period. Finally, Leelyn Smith LLC raised its holdings in shares of Amazon.com by 24.8% in the 1st quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock worth $8,870,000 after purchasing an additional 540 shares during the period. 57.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on AMZN shares. Roth Capital reiterated a “buy” rating on shares of Amazon.com in a research note on Friday, February 3rd. Wells Fargo & Company lowered their target price on Amazon.com from $155.00 to $145.00 in a research note on Friday, February 3rd. Credit Suisse Group increased their target price on Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. DA Davidson increased their target price on Amazon.com from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, Piper Sandler increased their target price on Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.87.
Insider Activity
Amazon.com Stock Down 1.6 %
Shares of AMZN stock opened at $90.73 on Monday. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $170.83. The stock has a market cap of $929.73 billion, a PE ratio of -338.53, a price-to-earnings-growth ratio of 3.74 and a beta of 1.25. The business’s fifty day moving average is $95.85 and its 200-day moving average is $102.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94.
Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results 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 negative net margin of 0.53% and a positive return on equity of 5.33%. The firm had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. During the same quarter last year, the business posted $1.39 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts expect that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.
About Amazon.com
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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