Whitener Capital Management Inc. Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Sep 24th, 2023

Whitener Capital Management Inc. lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,501 shares of the e-commerce giant’s stock after selling 1,692 shares during the quarter. Amazon.com makes up about 4.0% of Whitener Capital Management Inc.’s portfolio, making the stock its 6th biggest position. Whitener Capital Management Inc.’s holdings in Amazon.com were worth $10,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMZN. Bridgefront Capital LLC bought a new stake in Amazon.com during the 1st quarter valued at $228,000. Krane Funds Advisors LLC boosted its position in Amazon.com by 239.1% during the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after acquiring an additional 55 shares in the last quarter. Range Financial Group LLC bought a new stake in Amazon.com during the 1st quarter valued at $258,000. My Personal CFO LLC bought a new stake in Amazon.com during the 1st quarter valued at $261,000. Finally, Worth Asset Management LLC bought a new stake in Amazon.com during the 1st quarter valued at $191,000. Institutional investors own 57.96% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $128.17, for a total transaction of $64,085.00. Following the transaction, the chief executive officer now owns 150,780 shares of the company’s stock, valued at $19,325,472.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Amazon.com news, major shareholder Amazon Com Inc sold 1,177,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $19.50, for a total transaction of $22,951,500.00. Following the transaction, the insider now owns 12,741,445 shares of the company’s stock, valued at $248,458,177.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $128.17, for a total value of $64,085.00. Following the transaction, the chief executive officer now directly owns 150,780 shares in the company, valued at approximately $19,325,472.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,408,645 shares of company stock valued at $55,223,448. 12.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial increased their target price on Amazon.com from $144.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Rosenblatt Securities upgraded Amazon.com from a “neutral” rating to a “buy” rating and increased their price objective for the company from $111.00 to $184.00 in a report on Friday, August 4th. Barclays increased their price objective on Amazon.com from $140.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Mizuho increased their price objective on Amazon.com from $160.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Tigress Financial increased their price objective on Amazon.com from $192.00 to $204.00 in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.22.

Get Our Latest Analysis on Amazon.com

Amazon.com Stock Down 0.2 %

NASDAQ:AMZN opened at $129.12 on Friday. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $145.86. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 101.67, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The stock’s fifty day moving average is $135.38 and its two-hundred day moving average is $120.48.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.29. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. The company had revenue of $134.38 billion for the quarter, compared to analysts’ expectations of $131.54 billion. Research analysts anticipate that Amazon.com, Inc. will post 2.23 EPS for the current year.

About Amazon.com

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.

See Also

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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