Reynders McVeigh Capital Management LLC Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 7th, 2023

Reynders McVeigh Capital Management LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,972 shares of the e-commerce giant’s stock after selling 8,473 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Amazon.com were worth $13,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMZN. Live Oak Private Wealth LLC grew its position in Amazon.com by 21.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 12,015 shares of the e-commerce giant’s stock valued at $1,009,000 after acquiring an additional 2,130 shares during the period. Game Creek Capital LP grew its position in Amazon.com by 255.2% during the fourth quarter. Game Creek Capital LP now owns 46,175 shares of the e-commerce giant’s stock valued at $3,879,000 after acquiring an additional 33,175 shares during the period. Red Lighthouse Investment Management LLC purchased a new stake in shares of Amazon.com in the fourth quarter worth about $539,000. Waratah Capital Advisors Ltd. boosted its position in shares of Amazon.com by 68.4% in the fourth quarter. Waratah Capital Advisors Ltd. now owns 150,403 shares of the e-commerce giant’s stock worth $12,634,000 after buying an additional 61,094 shares during the period. Finally, Asahi Life Asset Management CO. LTD. boosted its position in shares of Amazon.com by 0.8% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 92,565 shares of the e-commerce giant’s stock worth $7,775,000 after buying an additional 753 shares during the period. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $126.61 on Wednesday. Amazon.com, Inc. has a 12-month low of $81.43 and a 12-month high of $146.57. The firm has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 301.45, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. The business has a 50 day simple moving average of $109.06 and a 200 day simple moving average of $99.29. 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 quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $124.57 billion. During the same period in the prior year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Amazon.com, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

AMZN has been the subject of several analyst reports. Truist Financial upped their target price on Amazon.com from $142.00 to $144.00 in a research report on Wednesday, April 12th. Wedbush upped their target price on Amazon.com from $125.00 to $129.00 in a research report on Friday, April 28th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Amazon.com in a research report on Thursday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Amazon.com in a research report on Wednesday, April 12th. Finally, JPMorgan Chase & Co. upped their target price on Amazon.com from $135.00 to $145.00 in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $143.52.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $102.25, for a total value of $409,000.00. Following the completion of the transaction, the chief executive officer now directly owns 556,298 shares of the company’s stock, valued at approximately $56,881,470.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $102.25, for a total transaction of $409,000.00. Following the completion of the transaction, the chief executive officer now directly owns 556,298 shares of the company’s stock, valued at approximately $56,881,470.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 21,925 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $115.37, for a total value of $2,529,487.25. Following the transaction, the chief executive officer now directly owns 1,997,681 shares of the company’s stock, valued at $230,472,456.97. The disclosure for this sale can be found here. Insiders sold 75,144 shares of company stock valued at $8,513,127 in the last three months. 12.70% of the stock is currently owned by corporate insiders.

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.