Triangle Securities Wealth Management Sells 2,256 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Mar 21st, 2023

Triangle Securities Wealth Management reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,531 shares of the e-commerce giant’s stock after selling 2,256 shares during the quarter. Triangle Securities Wealth Management’s holdings in Amazon.com were worth $1,557,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMZN. State Street Corp grew its stake in shares of Amazon.com by 1,869.1% during the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after acquiring an additional 310,134,486 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after acquiring an additional 295,880,050 shares in the last quarter. FMR LLC grew its stake in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares in the last quarter. Northern Trust Corp grew its stake in shares of Amazon.com by 1,867.0% in the second quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after buying an additional 90,167,792 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Amazon.com by 1,944.4% in the second 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 buying an additional 57,043,701 shares in the last quarter. 57.64% of the stock is owned by institutional investors.

Amazon.com Stock Down 1.3 %

Shares of NASDAQ:AMZN opened at $97.71 on Tuesday. The stock has a fifty day simple moving average of $97.22 and a two-hundred day simple moving average of $101.14. The stock has a market capitalization of $1.00 trillion, a price-to-earnings ratio of -364.58, a PEG ratio of 4.06 and a beta of 1.25. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $170.83. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $149.20 billion during the quarter, compared to analysts’ expectations of $145.72 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Amazon.com, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total value of $375,200.00. Following the completion of the transaction, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total value of $332,185.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total value of $375,200.00. Following the completion of the sale, the chief executive officer now directly 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. Insiders sold 71,394 shares of company stock worth $6,994,626 over the last quarter. 12.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wolfe Research raised their target price on shares of Amazon.com from $115.00 to $130.00 in a research note on Friday, February 3rd. Susquehanna raised their target price on shares of Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a research note on Friday, February 3rd. StockNews.com assumed coverage on shares of Amazon.com in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Barclays raised their target price on shares of Amazon.com from $130.00 to $150.00 in a research note on Friday, February 3rd. Finally, DA Davidson raised their target price on shares of Amazon.com from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Two investment 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. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $144.72.

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.

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

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