Meeder Asset Management Inc. Sells 252,793 Shares of Amazon.com, Inc. $AMZN

Meeder Asset Management Inc. trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 66.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,341 shares of the e-commerce giant’s stock after selling 252,793 shares during the quarter. Amazon.com accounts for approximately 1.6% of Meeder Asset Management Inc.’s holdings, making the stock its 15th largest position. Meeder Asset Management Inc.’s holdings in Amazon.com were worth $28,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMZN. Maryland Capital Advisors Inc. grew its stake in shares of Amazon.com by 81.9% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 95 shares during the period. Cooksen Wealth LLC boosted its holdings in shares of Amazon.com by 23.5% in the second quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant’s stock worth $54,000 after buying an additional 47 shares during the last quarter. PayPay Securities Corp grew its position in Amazon.com by 62.3% during the third quarter. PayPay Securities Corp now owns 250 shares of the e-commerce giant’s stock valued at $55,000 after buying an additional 96 shares during the period. Access Investment Management LLC bought a new stake in Amazon.com during the second quarter valued at approximately $74,000. Finally, Sagard Holdings Management Inc. purchased a new stake in Amazon.com during the second quarter valued at approximately $79,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com News Roundup

Here are the key news stories impacting Amazon.com this week:

Insider Buying and Selling at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $226.61, for a total transaction of $280,316.57. Following the completion of the transaction, the director owned 26,148 shares in the company, valued at $5,925,398.28. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew S. Garman sold 17,768 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was 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 in the company, valued at $1,360,613.70. This represents a 73.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 79,734 shares of company stock worth $18,534,017. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 2.6%

Amazon.com stock opened at $244.68 on Wednesday. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $258.60. The firm’s 50 day moving average price is $232.23 and its 200-day moving average price is $229.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The stock has a market cap of $2.62 trillion, a P/E ratio of 34.56, a PEG ratio of 1.49 and a beta of 1.37.

Amazon.com (NASDAQ:AMZNGet Free Report) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The firm had revenue of $180.17 billion during the quarter, compared to analyst estimates of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. Amazon.com’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. On average, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating on shares of Amazon.com in a research note on Wednesday, December 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $295.00 target price (up from $270.00) on shares of Amazon.com in a report on Monday. Citizens Jmp reissued a “market outperform” rating and set a $300.00 price target on shares of Amazon.com in a report on Wednesday, December 3rd. Barclays restated an “overweight” rating and issued a $300.00 price target (up previously from $275.00) on shares of Amazon.com in a research report on Friday, October 31st. Finally, Canaccord Genuity Group set a $300.00 price objective on Amazon.com and gave the company a “buy” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fifty-four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.65.

View Our Latest Report on AMZN

Amazon.com Profile

(Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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