Zweig DiMenna Associates LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on May 17th, 2023

Zweig DiMenna Associates LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 38.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,615 shares of the e-commerce giant’s stock after selling 80,350 shares during the quarter. Amazon.com comprises about 1.6% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 20th biggest position. Zweig DiMenna Associates LLC’s holdings in Amazon.com were worth $10,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dohj LLC boosted its position in shares of Amazon.com by 1.8% in the 3rd quarter. Dohj LLC now owns 24,839 shares of the e-commerce giant’s stock worth $2,807,000 after purchasing an additional 451 shares in the last quarter. Bassett Hargrove Investment Counsel LLC acquired a new stake in shares of Amazon.com in the 3rd quarter worth $2,120,000. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of Amazon.com by 1.2% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 313,317 shares of the e-commerce giant’s stock worth $35,405,000 after purchasing an additional 3,840 shares in the last quarter. Sarasin & Partners LLP boosted its position in shares of Amazon.com by 0.7% in the 4th quarter. Sarasin & Partners LLP now owns 2,468,455 shares of the e-commerce giant’s stock worth $207,350,000 after purchasing an additional 17,993 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Amazon.com by 0.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 4,185,666 shares of the e-commerce giant’s stock worth $472,980,000 after purchasing an additional 32,781 shares in the last quarter. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 2.0 %

Shares of Amazon.com stock opened at $113.40 on Wednesday. The stock has a market cap of $1.16 trillion, a P/E ratio of 270.00, a P/E/G ratio of 3.73 and a beta of 1.26. The stock’s 50 day simple moving average is $102.17 and its 200-day simple moving average is $96.66. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $146.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The business had revenue of $127.36 billion for the quarter, compared to analysts’ expectations of $124.57 billion. During the same period in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 1.54 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,500 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 119,780 shares in the company, valued at $11,368,319.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Shelley Reynolds sold 3,500 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 119,780 shares in the company, valued at $11,368,319.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $105.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 552,298 shares in the company, valued at $57,991,290. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,259 shares of company stock worth $4,866,360. Insiders own 12.70% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent analyst reports. Wedbush raised their price objective on Amazon.com from $125.00 to $129.00 in a research report on Friday, April 28th. Tigress Financial reissued a “buy” rating and issued a $192.00 price objective on shares of Amazon.com in a research report on Thursday, February 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Amazon.com from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, April 18th. Susquehanna lifted 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. Finally, Wells Fargo & Company lowered their price target on Amazon.com from $155.00 to $145.00 in a research report on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating and forty-one have issued a buy rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $143.12.

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.