Amazon.com, Inc. (NASDAQ:AMZN) Stake Lessened by AdvisorNet Financial Inc

Posted by Defense World Staff on Mar 26th, 2023

AdvisorNet Financial Inc lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,712 shares of the e-commerce giant’s stock after selling 5,281 shares during the period. AdvisorNet Financial Inc’s holdings in Amazon.com were worth $3,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dohj LLC increased its stake in Amazon.com by 1.8% during the third quarter. Dohj LLC now owns 24,839 shares of the e-commerce giant’s stock valued at $2,807,000 after purchasing an additional 451 shares during the last quarter. Bassett Hargrove Investment Counsel LLC bought a new stake in Amazon.com during the third quarter valued at $2,120,000. Obermeyer Wood Investment Counsel Lllp increased its stake in Amazon.com by 1.2% during the third quarter. Obermeyer Wood Investment Counsel Lllp now owns 313,317 shares of the e-commerce giant’s stock valued at $35,405,000 after purchasing an additional 3,840 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Amazon.com by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 4,185,666 shares of the e-commerce giant’s stock valued at $472,980,000 after purchasing an additional 32,781 shares during the last quarter. Finally, West Coast Financial LLC acquired a new position in shares of Amazon.com during the third quarter valued at $210,000. Institutional investors own 57.64% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several analyst reports. Benchmark boosted their price target on shares of Amazon.com from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Barclays boosted their price target on shares of Amazon.com from $130.00 to $150.00 in a report on Friday, February 3rd. Cowen boosted their price target on shares of Amazon.com from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Wedbush reduced their price target on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.72.

Insider Activity

In other news, CEO Douglas J. Herrington sold 4,000 shares of the company’s 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 approximately $52,555,952.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Andrew R. Jassy sold 23,874 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total value of $2,367,107.10. Following the completion of the sale, the chief executive officer now owns 1,964,506 shares of the company’s stock, valued at approximately $194,780,769.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were 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 have sold 73,693 shares of company stock worth $7,225,308 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $98.13 on Friday. The company has a market capitalization of $1.01 trillion, a price-to-earnings ratio of -363.44, a P/E/G ratio of 4.09 and a beta of 1.25. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. 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 business’s 50-day moving average is $97.58 and its 200-day moving average is $100.54.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The business had revenue of $149.20 billion during 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%. Amazon.com’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. Equities research analysts expect that Amazon.com, Inc. will post 1.33 EPS for the current fiscal year.

Amazon.com Company 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.