Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Meridian Management Co.

Posted by Defense World Staff on May 29th, 2023

Meridian Management Co. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,183 shares of the e-commerce giant’s stock after selling 10,905 shares during the quarter. Meridian Management Co.’s holdings in Amazon.com were worth $2,199,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Dohj LLC lifted its holdings in shares of Amazon.com by 1.8% during the third 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 during the period. Bassett Hargrove Investment Counsel LLC acquired a new stake in shares of Amazon.com during the third quarter worth about $2,120,000. Veritas Asset Management LLP lifted its holdings in shares of Amazon.com by 19.6% during the fourth quarter. Veritas Asset Management LLP now owns 7,868,621 shares of the e-commerce giant’s stock worth $660,964,000 after purchasing an additional 1,286,797 shares during the period. Obermeyer Wood Investment Counsel Lllp lifted its holdings in 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 period. Finally, Sarasin & Partners LLP lifted its holdings in Amazon.com by 0.7% in the fourth quarter. Sarasin & Partners LLP now owns 2,468,455 shares of the e-commerce giant’s stock valued at $207,350,000 after acquiring an additional 17,993 shares during the period. Institutional investors and hedge funds own 57.64% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $120.11 on Monday. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $146.57. The business’s fifty day simple moving average is $105.61 and its 200-day simple moving average is $98.02. The firm has a market cap of $1.23 trillion, a PE ratio of 285.98, a price-to-earnings-growth ratio of 4.18 and a beta of 1.26. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.43.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) 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 firm had revenue of $127.36 billion for the quarter, compared to analyst estimates of $124.57 billion. During the same quarter in the prior year, the company earned $0.21 EPS. Amazon.com’s revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that Amazon.com, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brian T. Olsavsky sold 16,800 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $116.69, for a total transaction of $1,960,392.00. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $5,717,810. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Amazon.com 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 transaction of $375,200.00. Following the sale, 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 document filed with the SEC, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 16,800 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $116.69, for a total value of $1,960,392.00. Following the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $5,717,810. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,144 shares of company stock valued at $8,405,887. Corporate insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Mizuho boosted their price target on Amazon.com from $135.00 to $145.00 in a report on Friday, April 28th. Wedbush boosted their price target on Amazon.com from $125.00 to $129.00 in a report on Friday, April 28th. Rosenblatt Securities boosted their price target on Amazon.com from $106.00 to $111.00 in a report on Friday, April 28th. Susquehanna boosted their price target on Amazon.com from $140.00 to $150.00 and gave the company a “positive” rating in a report on Friday, February 3rd. Finally, Oppenheimer cut their price objective on Amazon.com from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. Three equities research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.17.

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.