Gofen & Glossberg LLC IL Sells 11,234 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 26th, 2023

Gofen & Glossberg LLC IL reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,861 shares of the e-commerce giant’s stock after selling 11,234 shares during the quarter. Amazon.com accounts for 1.1% of Gofen & Glossberg LLC IL’s portfolio, making the stock its 25th biggest holding. Gofen & Glossberg LLC IL’s holdings in Amazon.com were worth $42,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bridgefront Capital LLC purchased a new stake in Amazon.com during the first quarter valued at $228,000. Krane Funds Advisors LLC increased its position in Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after acquiring an additional 55 shares during the last quarter. Range Financial Group LLC purchased a new stake in Amazon.com during the first quarter valued at $258,000. My Personal CFO LLC purchased a new stake in Amazon.com during the first quarter valued at $261,000. Finally, Worth Asset Management LLC purchased a new stake in Amazon.com during the first quarter valued at $191,000. 57.64% of the stock is owned by institutional investors.

Amazon.com Price Performance

AMZN opened at $98.13 on Friday. The business has a fifty day moving average of $97.58 and a 200 day moving average of $100.54. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.01 trillion, a P/E ratio of -363.44, a PEG ratio of 4.09 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 negative net margin of 0.53% and a positive return on equity of 5.33%. The business had revenue of $149.20 billion for the quarter, compared to analysts’ expectations of $145.72 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. Amazon.com’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

AMZN has been the subject of a number of research reports. StockNews.com initiated coverage on Amazon.com in a research report on Thursday, March 16th. They set a “hold” rating for the company. Susquehanna upped their price target on Amazon.com from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. DA Davidson upped their price target on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Rosenblatt Securities upped 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. Finally, JMP Securities restated a “market outperform” rating and issued a $140.00 price target on shares of Amazon.com in a research report on Thursday, March 16th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.72.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the transaction, the vice president now owns 119,780 shares in the company, valued at approximately $11,368,319.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 2,299 shares of Amazon.com stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $100.34, for a total transaction of $230,681.66. Following the completion of the sale, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at approximately $13,879,028.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total value of $332,185.00. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The disclosure for this sale can be found here. Insiders sold a total of 73,693 shares of company stock worth $7,225,308 in the last quarter. 12.70% of the stock is owned by company insiders.

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.