Perfromance Wealth Partners LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Apr 2nd, 2023

Perfromance Wealth Partners LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,063,064 shares of the e-commerce giant’s stock after selling 57,835 shares during the period. Amazon.com makes up approximately 5.4% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 4th largest holding. Perfromance Wealth Partners LLC’s holdings in Amazon.com were worth $89,297,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dohj LLC lifted its holdings in shares of Amazon.com by 1.8% in 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 in the last quarter. Bassett Hargrove Investment Counsel LLC bought a new stake in shares of Amazon.com in the third quarter valued at about $2,120,000. Obermeyer Wood Investment Counsel Lllp increased its position in shares of Amazon.com by 1.2% in 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 acquiring an additional 3,840 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Amazon.com by 0.8% in 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 acquiring an additional 32,781 shares during the last quarter. Finally, West Coast Financial LLC acquired a new stake in shares of Amazon.com in the third quarter valued at about $210,000. 57.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 2,299 shares of the company’s 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 in the company, valued at $13,879,028.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 23,874 shares of the company’s stock in a transaction on 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 2,299 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $100.34, for a total value of $230,681.66. Following the sale, the chief executive officer now owns 138,320 shares of the company’s stock, valued at $13,879,028.80. The disclosure for this sale can be found here. Insiders sold 73,693 shares of company stock worth $7,225,308 over the last three months. Insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays lifted their target price on Amazon.com from $130.00 to $150.00 in a research report on Friday, February 3rd. Rosenblatt Securities lifted their target price on Amazon.com from $103.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. Wedbush lowered their target price on Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Tigress Financial reaffirmed a “buy” rating and issued a $192.00 target price on shares of Amazon.com in a research report on Thursday, February 9th. Finally, Oppenheimer lifted their target price on Amazon.com from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $144.93.

Amazon.com Trading Up 1.3 %

Shares of AMZN stock opened at $103.29 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.06 trillion, a P/E ratio of -385.40, a price-to-earnings-growth ratio of 4.15 and a beta of 1.25. The stock has a 50 day simple moving average of $97.98 and a 200 day simple moving average of $99.46. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $170.83.

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