Jennison Associates LLC Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Jennison Associates LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.9% during the 3rd quarter, Holdings Channel reports. The firm owned 2,612,410 shares of the e-commerce giant’s stock after selling 135,738 shares during the period. Amazon.com makes up 5.5% of Jennison Associates LLC’s holdings, making the stock its largest holding. Jennison Associates LLC’s holdings in Amazon.com were worth $8,581,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMZN. Farmers Trust Co. grew its holdings in shares of Amazon.com by 2.8% during the 3rd quarter. Farmers Trust Co. now owns 109 shares of the e-commerce giant’s stock valued at $358,000 after purchasing an additional 3 shares during the last quarter. Pflug Koory LLC lifted its position in shares of Amazon.com by 4.3% in the 3rd quarter. Pflug Koory LLC now owns 72 shares of the e-commerce giant’s stock worth $237,000 after purchasing an additional 3 shares during the period. Rainey & Randall Investment Management Inc. lifted its position in shares of Amazon.com by 2.1% in the 3rd quarter. Rainey & Randall Investment Management Inc. now owns 147 shares of the e-commerce giant’s stock worth $482,000 after purchasing an additional 3 shares during the period. Defined Wealth Management LLC lifted its position in shares of Amazon.com by 3.0% in the 3rd quarter. Defined Wealth Management LLC now owns 103 shares of the e-commerce giant’s stock worth $338,000 after purchasing an additional 3 shares during the period. Finally, Alpha Omega Group Inc. lifted its position in shares of Amazon.com by 3.5% in the 3rd quarter. Alpha Omega Group Inc. now owns 88 shares of the e-commerce giant’s stock worth $289,000 after purchasing an additional 3 shares during the period. 56.96% of the stock is currently owned by institutional investors.

Shares of Amazon.com stock opened at $3,242.76 on Friday. Amazon.com, Inc. has a 52 week low of $2,881.00 and a 52 week high of $3,773.08. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.64 trillion, a P/E ratio of 63.43, a PEG ratio of 2.62 and a beta of 1.10. The company has a 50 day moving average price of $3,438.21 and a 200 day moving average price of $3,427.83.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Wednesday, October 27th. The e-commerce giant reported $6.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.10 by ($2.98). Amazon.com had a return on equity of 24.31% and a net margin of 5.73%. The business had revenue of $110.81 billion for the quarter, compared to analysts’ expectations of $111.66 billion. During the same period in the prior year, the business posted $12.37 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com, Inc. will post 40.79 earnings per share for the current fiscal year.

A number of analysts have weighed in on AMZN shares. The Goldman Sachs Group reduced their price objective on shares of Amazon.com from $4,250.00 to $4,100.00 and set a “buy” rating for the company in a research note on Friday, October 29th. Piper Sandler dropped their price objective on shares of Amazon.com from $3,904.00 to $3,875.00 and set an “overweight” rating on the stock in a report on Friday, October 29th. Cowen increased their target price on Amazon.com from $4,300.00 to $4,500.00 and gave the stock an “outperform” rating in a research report on Monday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Amazon.com from $4,100.00 to $4,350.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $4,100.00 target price on shares of Amazon.com in a report on Sunday, October 31st. Forty investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Amazon.com has a consensus rating of “Buy” and an average price target of $4,201.88.

In other news, CEO Adam Selipsky sold 34 shares of Amazon.com stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $3,337.66, for a total transaction of $113,480.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 492 shares of Amazon.com stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $3,676.00, for a total transaction of $1,808,592.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,314 shares of company stock valued at $292,824,570 over the last three months. 14.00% of the stock is currently owned by insiders.

About Amazon.com

Amazon.com, Inc engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca.

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

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