Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Essex Investment Management Co. LLC

Posted by Defense World Staff on Mar 14th, 2023

Essex Investment Management Co. LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,700 shares of the e-commerce giant’s stock after selling 8,144 shares during the period. Amazon.com accounts for approximately 1.2% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 13th biggest holding. Essex Investment Management Co. LLC’s holdings in Amazon.com were worth $7,650,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in 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 valued at $34,701,726,000 after purchasing an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC raised its stake in 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 valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the last quarter. Northern Trust Corp raised its stake in Amazon.com by 1,867.0% in 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 purchasing an additional 90,167,792 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Amazon.com by 1,944.4% in 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 purchasing an additional 57,043,701 shares during the last quarter. 57.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 23,874 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $99.15, for a total value of $2,367,107.10. Following the completion of the transaction, the chief executive officer now owns 1,964,506 shares in the company, valued at approximately $194,780,769.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $102.90, for a total transaction of $411,600.00. Following the sale, the chief executive officer now directly owns 529,435 shares in the company, valued at $54,478,861.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 23,874 shares of Amazon.com stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $99.15, for a total transaction of $2,367,107.10. Following the sale, the chief executive officer now owns 1,964,506 shares in the company, valued at $194,780,769.90. The disclosure for this sale can be found here. Insiders have sold a total of 71,394 shares of company stock worth $6,994,626 over the last quarter. 12.70% of the stock is owned by company insiders.

Amazon.com Stock Up 1.9 %

Shares of Amazon.com stock opened at $92.43 on Tuesday. The business has a 50-day moving average of $96.01 and a 200-day moving average of $102.24. 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 company has a market capitalization of $947.15 billion, a PE ratio of -344.88, a P/E/G ratio of 3.74 and a beta of 1.25. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83.

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

Wall Street Analyst Weigh In

Several research firms recently commented on AMZN. Telsey Advisory Group reduced their price objective on Amazon.com from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, January 24th. Benchmark upped their target price on Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 3rd. DA Davidson upped their target price on Amazon.com from $114.00 to $134.00 and gave the company a “buy” rating in a report on Friday, February 3rd. UBS Group upped their target price on Amazon.com from $118.00 to $127.00 in a report on Friday, February 3rd. Finally, Susquehanna upped their target price on Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a report 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’s stock. According to data from MarketBeat, the company currently 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.