West Coast Financial LLC purchased new shares of Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to the company’s latest disclosure to the Securities and Exchange Commission (SEC). Purchased 1,858 shares of stock in an e-commerce giant worth $210,000.
Many other hedge funds and other institutional investors have also changed their stock holdings. State Street Corp increased his stake in Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant after acquiring an additional 310,134,486 shares during this period. Price T Rowe Associates Inc. MD increased his stake in Amazon.com stock by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant after he purchased an additional 295.88 million shares during this period. FMR LLC increased its position on Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant worth $30,381,089,000 after purchasing an additional 270,931,640 shares in the previous quarter. Northern Trust Corporation increased its position on Amazon.com by 1,867.0% in the second quarter. Northern Trust Corporation now owns 94,997,372 shares of the e-commerce giant worth $10,089,669,000 after purchasing an additional 90,167,792 shares last quarter. Finally, Legal & General Group Plc increased its position on Amazon.com by 1,944.4% in the second quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant worth $6,370,223,000 after purchasing an additional 57,043,701 shares in the previous quarter. Institutional investors and hedge funds own 57.64% of the company’s shares.
In related news, CEO Douglas J. Herrington sold 15,787 shares of Amazon.com stock in a transaction on Tuesday, November 15th. The shares sold at an average price of $103.10, and the total transaction value he had was $1,627,639.70. Following the closing of the sale, the CEO now owns his 522,251 shares in the company, valued at approximately $53,844,078.10. The deal is disclosed in documents filed with the SEC and available on his website. In other news, CFO Brian T. Olsavsky sold 15,240 shares of Amazon.com stock in a transaction on Monday, November 21st. The shares were sold at an average price of $94.00 for a total of $1,432,560.00. Following the transaction, the Chief Financial Officer now directly owns 49,000 shares of the Company’s stock valued at approximately $4,606,000. The transaction was disclosed in filings with the Securities and Exchange Commission, which can be accessed on the SEC’s website. CEO Douglas J. Herrington also sold 15,787 shares of the company in a transaction on Tuesday, November 15th. The shares sold for an average of $103.10 for a total of $1,627,639.70. After the sale, the CEO now owns 522,251 shares in the company, valued at $53,844,078.10. Please see here for the disclosure of this sale. The insider said that in the past 90 days he has sold 52,083 shares of company stock worth $5,042,388. 12.70% of the shares are currently owned by corporate insiders.
Amazon.com price performance
NASDAQ AMZN shares opened at $100.55 on Tuesday. His 50-day moving average price for this stock is $90.90 and its 200-day moving average price is $109.73. The company has a market capitalization of $1.03 trillion, a PE ratio of 92.29, a P/E/G ratio of 3.43 and a beta of 1.22. The company has a debt to equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.68. His one year low on Amazon.com, Inc. is $81.43 and his one year high is $170.83.
Analyst upgrades and downgrades
Several research analysts recently published reports on AMZN stock. Cowen lowered his Amazon.com stock price target from his $160.00 to $140.00 and set the company’s valuation to “outperform,” in a report Wednesday, Jan. 11. The Royal Bank of Canada cut its price target on Amazon.com stock from $175.00 to $135.00, giving it an “outperform” rating, in a research report on Friday, Oct. 28. Evercore ISI reaffirmed its ‘buy’ rating and set a $150.00 price target on Amazon.com stock in a research report on Friday. Needham & Company LLC lowered its price target on Amazon.com stock from $175.00 to $120.00 and gave the stock a Buy rating in its research report on Friday, October 28. Finally, Wolfe Research lowered its price target for Amazon.com stock from $150.00 to $130.00 in his Friday Oct. 28 research report, setting the stock at an “Outperform” valuation. Two investment analysts gave the stock a sell rating, three assigned a hold rating, and 41 issued a buy rating to the company’s stock. According to MarketBeat data, the current consensus rating for the stock is “moderate buy” with an average target price of $145.81.
Amazon.com, Inc. is a multinational technology company engaged in providing online retail shopping services. It operates through North America, International, and Amazon Web Services (AWS) business segments. The North America segment includes retail sales and subscriptions of consumer goods through North America-focused websites such as www.amazon.com and www.amazon.ca.
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