Connective Capital Management LLC Sells 12,008 Shares of Amazon.com, Inc. $AMZN

Connective Capital Management LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 54.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,023 shares of the e-commerce giant’s stock after selling 12,008 shares during the quarter. Amazon.com makes up 2.1% of Connective Capital Management LLC’s portfolio, making the stock its 17th biggest position. Connective Capital Management LLC’s holdings in Amazon.com were worth $2,199,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMZN. Vanguard Group Inc. grew its position in Amazon.com by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 849,721,601 shares of the e-commerce giant’s stock valued at $186,420,422,000 after purchasing an additional 17,447,045 shares during the last quarter. Geode Capital Management LLC raised its holdings in Amazon.com by 1.7% in the second quarter. Geode Capital Management LLC now owns 216,717,657 shares of the e-commerce giant’s stock worth $47,332,625,000 after buying an additional 3,721,658 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its stake in shares of Amazon.com by 542,733.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock worth $29,100,194,000 after buying an additional 132,616,953 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Amazon.com by 0.3% during the first quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant’s stock valued at $18,527,354,000 after buying an additional 302,858 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amazon.com by 2.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 61,911,985 shares of the e-commerce giant’s stock valued at $13,582,871,000 after acquiring an additional 1,668,363 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $233.22, for a total transaction of $583,050.00. Following the completion of the sale, the chief executive officer owned 505,934 shares of the company’s stock, valued at $117,993,927.48. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith Brian Alexander sold 900 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $233.00, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 82,234 shares of company stock worth $19,076,767. Company insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $231.78 on Thursday. The company has a 50-day moving average price of $229.06 and a 200-day moving average price of $224.52. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $258.60. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.48 trillion, a P/E ratio of 32.74, a PEG ratio of 1.57 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. During the same quarter last year, the firm posted $1.43 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. CIBC upped their price objective on Amazon.com to $315.00 in a research report on Monday, October 20th. TD Cowen upped their price target on Amazon.com from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Mizuho downgraded Amazon.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Desjardins boosted their target price on Amazon.com to $218.00 in a research report on Monday. Finally, BNP Paribas began coverage on shares of Amazon.com in a report on Monday, November 24th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifty-seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.43.

Amazon.com Company 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.