Wealthsimple US Ltd. Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)
Wealthsimple US Ltd. cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 173 shares of the e-commerce giant’s stock after selling 8 shares during the period. Amazon.com makes up 0.4% of Wealthsimple US Ltd.’s investment portfolio, making the stock its 21st largest position. Wealthsimple US Ltd.’s holdings in Amazon.com were worth $477,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Covington Capital Management increased its holdings in shares of Amazon.com by 1.7% during the 4th quarter. Covington Capital Management now owns 20,187 shares of the e-commerce giant’s stock worth $37,302,000 after buying an additional 335 shares during the last quarter. Boston Trust Walden Corp grew its position in Amazon.com by 87.0% during the first quarter. Boston Trust Walden Corp now owns 1,997 shares of the e-commerce giant’s stock valued at $3,894,000 after acquiring an additional 929 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Amazon.com by 7.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 68,348 shares of the e-commerce giant’s stock worth $133,260,000 after acquiring an additional 4,521 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Amazon.com by 7.3% in the 4th quarter. Alliancebernstein L.P. now owns 957,813 shares of the e-commerce giant’s stock worth $1,769,885,000 after purchasing an additional 65,232 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in shares of Amazon.com by 6.6% in the 1st quarter. IHT Wealth Management LLC now owns 6,500 shares of the e-commerce giant’s stock valued at $12,673,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.
AMZN traded up $80.99 on Wednesday, hitting $3,081.11. 4,960,006 shares of the company’s stock were exchanged, compared to its average volume of 4,465,133. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $2,598.30 and a two-hundred day moving average of $2,168.47. Amazon.com, Inc. has a twelve month low of $1,626.03 and a twelve month high of $3,069.55. The firm has a market cap of $1,504.84 billion, a PE ratio of 147.21, a P/E/G ratio of 6.25 and a beta of 1.32.
AMZN has been the topic of several research reports. Pivotal Research restated a “buy” rating and issued a $2,700.00 price target on shares of Amazon.com in a report on Friday, June 5th. Goldman Sachs Group reissued a “buy” rating on shares of Amazon.com in a research note on Monday, May 4th. Oppenheimer upped their price target on shares of Amazon.com from $2,400.00 to $2,700.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Needham & Company LLC assumed coverage on Amazon.com in a research report on Wednesday, June 24th. They issued a “buy” rating and a $3,200.00 price objective on the stock. Finally, JMP Securities upped their target price on Amazon.com from $2,650.00 to $2,850.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Amazon.com currently has an average rating of “Buy” and a consensus price target of $2,693.66.
In other Amazon.com news, Director Indra K. Nooyi purchased 27 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were bought at an average price of $2,806.80 per share, with a total value of $75,783.60. Following the completion of the acquisition, the director now owns 707 shares in the company, valued at approximately $1,984,407.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 6,945 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total value of $15,671,392.50. Following the transaction, the chief executive officer now owns 93,105 shares of the company’s stock, valued at $210,091,432.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,497 shares of company stock valued at $21,605,827. 16.10% of the stock is owned by company insiders.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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