RiverPark Advisors LLC Sells 26,179 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 6th, 2023

RiverPark Advisors LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 39.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,236 shares of the e-commerce giant’s stock after selling 26,179 shares during the period. Amazon.com accounts for approximately 1.6% of RiverPark Advisors LLC’s holdings, making the stock its 20th biggest position. RiverPark Advisors LLC’s holdings in Amazon.com were worth $3,380,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMZN. McGlone Suttner Wealth Management Inc. purchased a new position in Amazon.com in the 4th quarter worth about $426,000. Dohj LLC raised its position in 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 buying an additional 451 shares during the last quarter. Veritas Asset Management LLP raised its position in Amazon.com by 19.6% in the 4th quarter. Veritas Asset Management LLP now owns 7,868,621 shares of the e-commerce giant’s stock worth $660,964,000 after buying an additional 1,286,797 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its position in 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 buying an additional 3,840 shares during the last quarter. Finally, Sarasin & Partners LLP raised its position in 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 buying an additional 17,993 shares during the last quarter. Institutional investors own 57.64% of the company’s stock.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $120.61, for a total transaction of $482,440.00. Following the completion of the transaction, the chief executive officer now directly owns 568,301 shares in the company, valued at approximately $68,542,783.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Andrew R. Jassy sold 21,925 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the completion of the transaction, the chief executive officer now directly owns 1,997,681 shares in the company, valued at approximately $230,472,456.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $120.61, for a total value of $482,440.00. Following the transaction, the chief executive officer now owns 568,301 shares of the company’s stock, valued at $68,542,783.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,144 shares of company stock worth $8,513,127. 12.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AMZN. Truist Financial boosted their target price on Amazon.com from $142.00 to $144.00 in a research report on Wednesday, April 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price target on shares of Amazon.com in a research report on Thursday, April 20th. UBS Group upped their price target on shares of Amazon.com from $125.00 to $130.00 in a research report on Friday, April 28th. JPMorgan Chase & Co. upped their price target on shares of Amazon.com from $135.00 to $145.00 in a research report on Friday, April 28th. Finally, Bank of America upped their price target on shares of Amazon.com from $135.00 to $139.00 in a research report on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and forty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.52.

Amazon.com Stock Up 0.8 %

Shares of NASDAQ:AMZN opened at $125.30 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $108.47 and a two-hundred day moving average of $99.06. The stock has a market cap of $1.29 trillion, a P/E ratio of 298.33, a PEG ratio of 2.41 and a beta of 1.26. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. The business had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. On average, research analysts expect that Amazon.com, Inc. will post 1.57 earnings per share for the current year.

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.