Aspen Investment Management Inc Sells 3,273 Shares of Amazon.com, Inc. $AMZN

Aspen Investment Management Inc lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,954 shares of the e-commerce giant’s stock after selling 3,273 shares during the period. Amazon.com makes up approximately 1.2% of Aspen Investment Management Inc’s holdings, making the stock its 18th largest position. Aspen Investment Management Inc’s holdings in Amazon.com were worth $2,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Carderock Capital Management Inc. bought a new stake in shares of Amazon.com during the 2nd quarter valued at about $27,000. Maryland Capital Advisors Inc. boosted its holdings in shares of Amazon.com by 81.9% in the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 95 shares during the last quarter. Ryan Investment Management Inc. bought a new stake in Amazon.com during the second quarter valued at approximately $48,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Amazon.com during the first quarter valued at approximately $59,000. Finally, Access Investment Management LLC purchased a new stake in Amazon.com during the second quarter valued at approximately $74,000. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Keith Brian Alexander sold 900 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $233.00, for a total transaction of $209,700.00. Following the completion of the transaction, the director directly owned 7,170 shares in the company, valued at approximately $1,670,610. This represents a 11.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $216.94, for a total transaction of $4,311,031.68. Following the completion of the transaction, the chief executive officer directly owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,734 shares of company stock valued at $18,493,717 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $234.42 on Wednesday. The firm has a market cap of $2.51 trillion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 1.61 and a beta of 1.37. The firm has a fifty day moving average price of $227.92 and a 200 day moving average price of $223.55. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $258.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.80 and a current ratio of 1.01.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, topping the consensus estimate of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The business had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same quarter in the previous year, the company earned $1.43 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Loop Capital boosted their price objective on shares of Amazon.com from $300.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Wedbush reissued an “outperform” rating and set a $340.00 price target on shares of Amazon.com in a report on Monday, November 3rd. China Renaissance raised their price objective on Amazon.com from $278.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Telsey Advisory Group lifted their price objective on Amazon.com from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Benchmark boosted their price objective on Amazon.com from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $296.11.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.