Allspring Global Investments Holdings LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Apr 8th, 2023

Allspring Global Investments Holdings LLC decreased its position in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,716,977 shares of the e-commerce giant’s stock after selling 1,860,798 shares during the quarter. Amazon.com comprises approximately 1.1% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 3rd biggest position. Allspring Global Investments Holdings LLC owned about 0.08% of Amazon.com worth $648,226,000 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. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at about $27,000. Retirement Financial Solutions LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $32,000. Laurel Wealth Planning LLC raised its position in shares of Amazon.com by 1,900.0% in the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 304 shares in the last quarter. Swaine & Leidel Wealth Services LLC acquired a new stake in shares of Amazon.com in the first quarter valued at approximately $38,000. Finally, Cowa LLC acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 57.64% of the company’s stock.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction dated 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 transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction dated 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 directly owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $101.67, for a total value of $50,835.00. Following the completion of the sale, the chief executive officer now directly owns 137,300 shares of the company’s stock, valued at $13,959,291. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,193 shares of company stock valued at $7,685,143. Corporate insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMZN. New Street Research began coverage on shares of Amazon.com in a research report on Wednesday, January 4th. They issued a “buy” rating and a $130.00 price target for the company. Robert W. Baird upped their price objective on shares of Amazon.com from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. JPMorgan Chase & Co. decreased their target price on shares of Amazon.com from $142.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, March 16th. Credit Suisse Group upped their price target on shares of Amazon.com from $142.00 to $171.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Finally, Susquehanna lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.59.

Amazon.com Stock Performance

AMZN stock opened at $102.06 on Friday. The stock has a 50-day moving average price of $98.36 and a 200-day moving average price of $98.83. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $160.08. 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 firm has a market cap of $1.05 trillion, a PE ratio of -380.81, a price-to-earnings-growth ratio of 4.30 and a beta of 1.26.

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 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 the consensus estimate of $145.72 billion. During the same period last year, the business posted $1.39 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com, Inc. will post 1.33 earnings per share 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.