Glynn Capital Management LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 11.8% during the third quarter, Holdings Channel.com reports. The firm owned 21,035 shares of the e-commerce giant’s stock after selling 2,819 shares during the quarter. Amazon.com accounts for approximately 6.7% of Glynn Capital Management LLC’s holdings, making the stock its 5th largest position. Glynn Capital Management LLC’s holdings in Amazon.com were worth $36,515,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in AMZN. Enterprise Trust & Investment Co bought a new stake in Amazon.com during the second quarter valued at about $27,000. Phocas Financial Corp. bought a new stake in Amazon.com during the second quarter valued at about $4,545,000. Litman Gregory Asset Management LLC bought a new stake in Amazon.com during the second quarter valued at about $53,000. Clear Investment Research LLC raised its holdings in Amazon.com by 27.6% during the second quarter. Clear Investment Research LLC now owns 37 shares of the e-commerce giant’s stock valued at $70,000 after acquiring an additional 8 shares during the period. Finally, Financial Advantage Inc. raised its holdings in Amazon.com by 26.7% during the third quarter. Financial Advantage Inc. now owns 38 shares of the e-commerce giant’s stock valued at $65,000 after acquiring an additional 8 shares during the period. 55.60% of the stock is currently owned by institutional investors.
Shares of AMZN traded down $2.32 during midday trading on Friday, hitting $1,785.88. The stock had a trading volume of 2,123,300 shares, compared to its average volume of 4,016,732. Amazon.com, Inc. has a 1 year low of $1,307.00 and a 1 year high of $2,035.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.10 and a quick ratio of 0.84. The firm has a market cap of $893.28 billion, a PE ratio of 88.67, a price-to-earnings-growth ratio of 3.20 and a beta of 1.56. The stock’s 50 day moving average is $1,759.09 and its 200 day moving average is $1,840.01.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 24th. The e-commerce giant reported $4.23 EPS for the quarter, missing the consensus estimate of $4.46 by ($0.23). Amazon.com had a net margin of 4.27% and a return on equity of 22.52%. The business had revenue of $69.98 billion during the quarter, compared to the consensus estimate of $68.72 billion. During the same quarter in the prior year, the firm posted $5.75 EPS. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, equities research analysts expect that Amazon.com, Inc. will post 20.52 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the company. Bank of America reissued a “buy” rating and set a $2,250.00 price target (down from $2,350.00) on shares of Amazon.com in a report on Monday, October 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $2,100.00 target price (down from $2,400.00) on shares of Amazon.com in a report on Friday, October 25th. UBS Group reaffirmed a “buy” rating on shares of Amazon.com in a report on Wednesday. Pivotal Research reaffirmed a “buy” rating and issued a $2,615.00 target price (down from $2,750.00) on shares of Amazon.com in a report on Friday, July 26th. Finally, Jefferies Financial Group set a $2,300.00 target price on Amazon.com and gave the stock a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and forty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $2,189.97.
In related news, CEO Jeffrey A. Wilke sold 3,475 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1,773.99, for a total transaction of $6,164,615.25. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at approximately $17,739,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 379 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,775.43, for a total transaction of $672,887.97. Following the transaction, the vice president now owns 6,307 shares of the company’s stock, valued at approximately $11,197,637.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,747 shares of company stock valued at $40,737,808. Company insiders own 16.10% of the company’s stock.
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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