Echo Street Capital Management LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 64.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,104 shares of the e-commerce giant’s stock after selling 7,338 shares during the quarter. Echo Street Capital Management LLC’s holdings in Amazon.com were worth $464,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. lifted its position in Amazon.com by 146.5% during the third quarter. Edgestream Partners L.P. now owns 23,918 shares of the e-commerce giant’s stock worth $2,703,000 after buying an additional 14,215 shares in the last quarter. Elgethun Capital Management increased its stake in Amazon.com by 40.1% during the third quarter. Elgethun Capital Management now owns 16,060 shares of the e-commerce giant’s stock worth $1,815,000 after acquiring an additional 4,600 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in Amazon.com by 0.3% during the third quarter. Ensign Peak Advisors Inc now owns 9,085,609 shares of the e-commerce giant’s stock worth $1,026,674,000 after acquiring an additional 26,468 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in Amazon.com by 15.7% during the third quarter. Epoch Investment Partners Inc. now owns 1,364,626 shares of the e-commerce giant’s stock worth $154,203,000 after acquiring an additional 185,450 shares during the last quarter. Finally, Ethic Inc. increased its stake in Amazon.com by 12.8% during the third quarter. Ethic Inc. now owns 275,573 shares of the e-commerce giant’s stock worth $31,140,000 after acquiring an additional 31,266 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on AMZN. JMP Securities restated a “market outperform” rating and set a $140.00 price target on shares of Amazon.com in a research report on Friday, February 3rd. Cowen raised their price target on Amazon.com from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, December 1st. Rosenblatt Securities raised their price target on Amazon.com from $103.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. JPMorgan Chase & Co. raised their price target on Amazon.com from $130.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Cowen raised their price target on Amazon.com from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.87.
Amazon.com Trading Up 1.9 %
Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data 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 company had revenue of $149.20 billion for 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 firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. On average, analysts forecast that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.
Insider Activity at Amazon.com
In related news, CEO Andrew R. Jassy sold 23,874 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total transaction of $2,367,107.10. Following the transaction, the chief executive officer now directly owns 1,964,506 shares in the company, valued at $194,780,769.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Andrew R. Jassy sold 23,874 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total transaction of $2,367,107.10. Following the transaction, the chief executive officer now directly owns 1,964,506 shares in the company, valued at $194,780,769.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was 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 in the company, valued at $52,555,952.40. 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 quarter. Insiders own 12.70% of the company’s stock.
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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