Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Reduced by Family Management Corp

Posted by Defense World Staff on Mar 13th, 2023

Family Management Corp lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,362 shares of the e-commerce giant’s stock after selling 5,297 shares during the period. Amazon.com accounts for approximately 2.7% of Family Management Corp’s portfolio, making the stock its 7th largest position. Family Management Corp’s holdings in Amazon.com were worth $10,550,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Fiduciary Planning LLC lifted its stake in Amazon.com by 1.5% during the first quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock valued at $1,138,000 after purchasing an additional 5 shares during the last quarter. HBC Financial Services PLLC lifted its stake in Amazon.com by 0.8% during the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock valued at $1,717,000 after purchasing an additional 5 shares during the last quarter. Meridian Investment Counsel Inc. raised its holdings in shares of Amazon.com by 3.4% during the first quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock valued at $492,000 after acquiring an additional 5 shares during the period. Alterna Wealth Management Inc. raised its holdings in shares of Amazon.com by 1.8% during the first quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $942,000 after acquiring an additional 5 shares during the period. Finally, Archetype Wealth Partners raised its holdings in shares of Amazon.com by 3.7% during the first quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock valued at $552,000 after acquiring an additional 6 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 dated Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction that occurred on Thursday, February 2nd. The stock was 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 in the company, valued at approximately $13,837,377.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,394 shares of company stock valued at $6,994,626. 12.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. Cowen boosted their price target on shares of Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, December 1st. Barclays boosted their price target on shares of Amazon.com from $130.00 to $150.00 in a report on Friday, February 3rd. Evercore ISI upped their price objective on shares of Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Telsey Advisory Group dropped their price objective on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 24th. Finally, Benchmark upped their price objective 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $144.87.

Amazon.com Trading Down 1.6 %

Shares of Amazon.com stock opened at $90.73 on Monday. The stock has a market capitalization of $929.73 billion, a P/E ratio of -338.53, a price-to-earnings-growth ratio of 3.74 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 has a 50-day simple moving average of $95.85 and a 200 day simple moving average of $102.56. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced 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 firm had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 EPS. Research analysts expect that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

About Amazon.com

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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.