Harspring Capital Management LLC Has $40.12 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Mar 17th, 2023

Harspring Capital Management LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 355,000 shares of the e-commerce giant’s stock after selling 30,000 shares during the period. Amazon.com makes up about 9.6% of Harspring Capital Management LLC’s portfolio, making the stock its 4th largest holding. Harspring Capital Management LLC’s holdings in Amazon.com were worth $40,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after purchasing an additional 12,456,995 shares during the last quarter. State Street Corp lifted its stake in Amazon.com by 1.0% in the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 lifted 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. Finally, Northern Trust Corp lifted 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. Institutional investors own 57.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMZN. Wedbush dropped their price objective on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Evercore ISI upped their price target on shares of Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Credit Suisse Group upped their price target on shares of Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Piper Sandler upped their price target on shares of Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Tigress Financial restated a “buy” rating and issued a $192.00 price target on shares of Amazon.com in a research report on Thursday, February 9th. Two investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.72.

Insider Buying and Selling

In other news, 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 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 $194,780,769.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 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 $194,780,769.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total transaction of $375,200.00. Following the completion of the transaction, the chief executive officer now owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,394 shares of company stock worth $6,994,626. Insiders own 12.70% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $100.04 on Friday. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83. The company has a 50-day simple moving average of $96.75 and a 200 day simple moving average of $101.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. The company has a market capitalization of $1.03 trillion, a PE ratio of -373.27, a price-to-earnings-growth ratio of 3.81 and a beta of 1.25.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data 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). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company had revenue of $149.20 billion for the quarter, compared to analysts’ expectations of $145.72 billion. During the same quarter last year, the business posted $1.39 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Amazon.com, Inc. will post 1.34 EPS for the current year.

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.

See Also

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

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