DAVENPORT & Co LLC Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

DAVENPORT & Co LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,044,816 shares of the e-commerce giant’s stock after selling 22,969 shares during the period. Amazon.com comprises about 2.5% of DAVENPORT & Co LLC’s holdings, making the stock its 2nd biggest position. DAVENPORT & Co LLC’s holdings in Amazon.com were worth $449,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Accordant Advisory Group Inc raised its stake in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares during the period. Icon Wealth Advisors LLC raised its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. Hoese & Co LLP purchased a new position in Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com during the third quarter valued at about $45,000. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the 3rd quarter worth approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein increased their target price on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Mizuho raised their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Benchmark boosted their target price on Amazon.com from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Truist Financial lifted their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Susquehanna lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.74.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,852 shares of company stock worth $9,324,151 over the last quarter. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 2.8 %

Shares of NASDAQ AMZN opened at $216.58 on Monday. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business’s 50 day moving average is $227.88 and its two-hundred day moving average is $204.55. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 39.16, a PEG ratio of 1.54 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

About Amazon.com

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.