Galvin Gaustad & Stein LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,584 shares of the e-commerce giant’s stock after selling 37,025 shares during the period. Amazon.com makes up approximately 2.8% of Galvin Gaustad & Stein LLC’s investment portfolio, making the stock its 4th largest position. Galvin Gaustad & Stein LLC’s holdings in Amazon.com were worth $28,625,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.8% in the third quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after buying an additional 12,456,995 shares in the last quarter. State Street Corp raised its position in Amazon.com by 1.0% during the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Amazon.com by 1,838.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares in the last quarter. FMR LLC raised its position in Amazon.com by 1,792.4% during the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Amazon.com by 2.3% during the first quarter. Geode Capital Management LLC now owns 165,309,180 shares of the e-commerce giant’s stock valued at $17,031,683,000 after purchasing an additional 3,774,390 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.
Amazon.com Trading Down 2.5 %
AMZN opened at $128.13 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.95 and a quick ratio of 0.70. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $145.86. The firm has a market capitalization of $1.32 trillion, a PE ratio of 100.89, a P/E/G ratio of 2.01 and a beta of 1.24. The company’s 50-day moving average is $133.88 and its 200 day moving average is $124.59.
Insider Buying and Selling
In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $126.64, for a total value of $63,320.00. Following the sale, the chief executive officer now owns 105,520 shares in the company, valued at approximately $13,363,052.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amazon.com news, major shareholder Amazon Com Inc sold 1,177,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $19.50, for a total value of $22,951,500.00. Following the completion of the sale, the insider now owns 12,741,445 shares in the company, valued at approximately $248,458,177.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $126.64, for a total transaction of $63,320.00. Following the completion of the sale, the chief executive officer now owns 105,520 shares of the company’s stock, valued at approximately $13,363,052.80. The disclosure for this sale can be found here. Insiders have sold 1,408,645 shares of company stock worth $55,207,763 in the last quarter. Insiders own 12.70% of the company’s stock.
Analysts Set New Price Targets
AMZN has been the subject of several research analyst reports. TD Cowen boosted their price objective on shares of Amazon.com from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Morgan Stanley restated an “overweight” rating and set a $175.00 price objective on shares of Amazon.com in a research report on Monday, October 2nd. Canaccord Genuity Group boosted their target price on shares of Amazon.com from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Susquehanna boosted their target price on shares of Amazon.com from $150.00 to $185.00 and gave the stock a “positive” rating in a research note on Friday, August 4th. Finally, Bank of America reaffirmed a “buy” rating and set a $174.00 target price on shares of Amazon.com in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a hold rating and forty-nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.26.
View Our Latest Report on AMZN
About Amazon.com
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.
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