Trading Report: The Advisory Services Network LLC sells partial stakes of Amazon.com Inc. (AMZN)

The Advisory Services Network LLC sells partial stakes of Amazon.com Inc. (AMZN)

Advisory Services Network LLC reduced its position in Amazon.com Inc. (NASDAQ:AMZN) by 2.2% during the third quarter, Holdings Channel reports. The institutional investor owned 8,464 shares of the e-commerce giant’s stock after selling 191 shares during the period. Amazon.com comprises about 1.3% of Advisory Services Network LLC’s holdings, making the stock its 3rd largest position. Advisory Services Network LLC’s holdings in Amazon.com were worth $7,087,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AMZN. Cornerstone Advisors Inc. boosted its stake in shares of Amazon.com by 0.4% in the second quarter. Cornerstone Advisors Inc. now owns 558 shares of the e-commerce giant’s stock worth $399,000 after buying an additional 2 shares in the last quarter. Cadence Bank NA boosted its stake in shares of Amazon.com by 0.4% in the second quarter. Cadence Bank NA now owns 497 shares of the e-commerce giant’s stock worth $355,000 after buying an additional 2 shares in the last quarter. American Economic Planning Group Inc. ADV boosted its stake in shares of Amazon.com by 0.6% in the second quarter. American Economic Planning Group Inc. ADV now owns 365 shares of the e-commerce giant’s stock worth $261,000 after buying an additional 2 shares in the last quarter. First Niagara Bank boosted its stake in shares of Amazon.com by 0.3% in the second quarter. First Niagara Bank now owns 1,330 shares of the e-commerce giant’s stock worth $952,000 after buying an additional 4 shares in the last quarter. Finally, Hartford Financial Management Inc. boosted its stake in shares of Amazon.com by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 475 shares of the e-commerce giant’s stock worth $339,000 after buying an additional 5 shares in the last quarter. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Inc. (NASDAQ:AMZN) traded up 0.03% during midday trading on Friday, hitting $780.37. 1,837,068 shares of the company’s stock traded hands. Amazon.com Inc. has a 52 week low of $474.00 and a 52 week high of $847.21. The company has a market capitalization of $370.81 billion, a PE ratio of 178.78 and a beta of 1.51. The company has a 50 day moving average of $791.62 and a 200-day moving average of $760.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.28. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.69 billion. Amazon.com had a return on equity of 13.47% and a net margin of 1.64%. Amazon.com’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. Equities research analysts predict that Amazon.com Inc. will post $4.77 earnings per share for the current year.

A number of brokerages recently weighed in on AMZN. Wedbush set a $900.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a report on Sunday, October 30th. Argus restated a “hold” rating on shares of Amazon.com in a report on Monday, August 1st. Vetr upgraded shares of Amazon.com from a “hold” rating to a “buy” rating and set a $800.28 price objective for the company in a report on Tuesday, August 2nd. Canaccord Genuity boosted their price objective on shares of Amazon.com from $765.00 to $825.00 and gave the stock a “buy” rating in a report on Saturday, July 30th. Finally, Nomura restated a “buy” rating and issued a $950.00 price objective on shares of Amazon.com in a report on Monday, October 24th. Six equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. Amazon.com presently has a consensus rating of “Buy” and a consensus price target of $912.64.

In other Amazon.com news, CEO Andrew R. Jassy sold 14,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the sale, the chief executive officer now owns 68,141 shares in the company, valued at approximately $54,512,800. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 17.70% of the company’s stock.

Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).

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