BlueSpruce Investments LP Sells 509,234 Shares of Amazon.com, Inc. $AMZN

BlueSpruce Investments LP reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 19.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,120,169 shares of the e-commerce giant’s stock after selling 509,234 shares during the quarter. Amazon.com comprises about 10.8% of BlueSpruce Investments LP’s portfolio, making the stock its 3rd largest holding. BlueSpruce Investments LP’s holdings in Amazon.com were worth $465,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of AMZN. Barlow Wealth Partners Inc. grew its holdings in shares of Amazon.com by 0.4% during the second quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock valued at $2,763,000 after buying an additional 44 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its position in Amazon.com by 0.5% during the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock worth $1,843,000 after acquiring an additional 45 shares during the period. Probity Advisors Inc. grew its stake in Amazon.com by 0.4% during the 2nd quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock valued at $2,667,000 after purchasing an additional 45 shares during the last quarter. Union Savings Bank increased its holdings in shares of Amazon.com by 0.4% in the second quarter. Union Savings Bank now owns 10,723 shares of the e-commerce giant’s stock valued at $2,510,000 after purchasing an additional 45 shares during the period. Finally, Doheny Asset Management CA increased its holdings in shares of Amazon.com by 0.3% in the second quarter. Doheny Asset Management CA now owns 17,821 shares of the e-commerce giant’s stock valued at $3,910,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 1.8%

AMZN opened at $226.19 on Friday. 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. The company has a fifty day moving average of $229.35 and a two-hundred day moving average of $224.73. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.58 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (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 analyst estimates of $177.53 billion. During the same period in the prior year, the company posted $1.43 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird set a $285.00 target price on Amazon.com and gave the company an “outperform” rating in a research report on Friday, October 31st. Stifel Nicolaus lifted their price objective on shares of Amazon.com from $269.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, October 31st. President Capital increased their price objective on shares of Amazon.com from $280.00 to $320.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Telsey Advisory Group boosted their target price on shares of Amazon.com from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, JMP Securities set a $300.00 price target on shares of Amazon.com in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $295.43.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 8,173 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $250.03, for a total value of $2,043,495.19. Following the sale, the director directly owned 80,030 shares of the company’s stock, valued at approximately $20,009,900.90. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $216.90, for a total value of $3,853,879.20. Following the completion of the sale, the chief executive officer owned 6,273 shares of the company’s stock, valued at $1,360,613.70. This trade represents a 73.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,234 shares of company stock valued at $19,076,767 in the last ninety days. 9.70% of the stock is currently owned by company insiders.

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.