Maxi Investments CY Ltd Sells 90,353 Shares of Amazon.com, Inc. $AMZN

Maxi Investments CY Ltd reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 69.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,269 shares of the e-commerce giant’s stock after selling 90,353 shares during the quarter. Amazon.com comprises approximately 1.8% of Maxi Investments CY Ltd’s holdings, making the stock its 14th largest position. Maxi Investments CY Ltd’s holdings in Amazon.com were worth $9,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Trust Asset Management LLC boosted its holdings in Amazon.com by 3.3% in the second quarter. Trust Asset Management LLC now owns 107,563 shares of the e-commerce giant’s stock worth $26,000 after acquiring an additional 3,414 shares in the last quarter. TOP Private Wealth LLC. bought a new position in shares of Amazon.com during the second quarter valued at $29,000. Bard Associates Inc. bought a new position in shares of Amazon.com during the second quarter valued at $32,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Amazon.com in the 2nd quarter worth about $33,000. Finally, Atomic Invest LLC raised its position in shares of Amazon.com by 41.2% in the 2nd quarter. Atomic Invest LLC now owns 168 shares of the e-commerce giant’s stock worth $40,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays reissued an “overweight” rating and set a $365.00 price objective (up from $330.00) on shares of Amazon.com in a research report on Friday, July 31st. Robert W. Baird set a $310.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a research note on Friday, July 31st. Benchmark lifted their target price on shares of Amazon.com from $370.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Piper Sandler reiterated an “overweight” rating on shares of Amazon.com in a research note on Friday, October 30th. Finally, Evercore reiterated an “outperform” rating on shares of Amazon.com in a report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, fifty-five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Amazon.com Trading Up 0.5%

Amazon.com stock opened at $267.44 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.99 and a quick ratio of 0.82. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $287.20. The stock has a market capitalization of $2.89 trillion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.02 and a beta of 1.49. The business’s fifty day moving average is $254.66 and its 200 day moving average is $244.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 29th. The e-commerce giant reported $1.89 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.08). Amazon.com had a return on equity of 15.72% and a net margin of 16.90%. The business had revenue of $201.94 billion during the quarter, compared to the consensus estimate of $202.22 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. Amazon.com’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that Amazon.com, Inc. will post 7.80 EPS for the current year.

Trending Headlines about Amazon.com

Investors following AMZN have been watching these headlines:

• Positive Sentiment: Coverage pointed to the estimated value of Amazon’s Anthropic investment and ongoing AI demand as potential supports. A reported leadership shake-up at Nvidia may also encourage cloud providers to diversify chip suppliers, potentially benefiting Amazon’s in-house silicon efforts. What Is Going on with Amazon Stock on Thursday? NVIDIA’s Crisis Opens the Board
• Positive Sentiment: Amazon plans to hire 300,000 seasonal workers for the holidays, a sign of preparations for peak shopping demand. Investors are also watching a planned Amazon Leo rocket launch as a step toward expanding its satellite-internet service. What Is Going on with Amazon Stock on Thursday? Amazon Stock Rises Ahead of a Leo Rocket Launch
• Negative Sentiment: Amazon also faces legal overhangs: Italian prosecutors are pursuing an investigation into alleged unpaid import VAT and customs duties, and a U.S. court certified a class action alleging biometric-data violations involving Amazon Photos. Outcomes and potential financial exposure remain uncertain. Amazon Could Face Trial in Italy Over Unpaid Import VAT Class action over alleged Amazon Photos biometric-data collection

Insider Activity

In other news, VP Shelley Reynolds sold 2,343 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $606,860.43. Following the completion of the transaction, the vice president directly owned 119,780 shares of the company’s stock, valued at $31,024,217.80. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $5,180,200.00. Following the transaction, the chief executive officer owned 2,235,766 shares in the company, valued at approximately $579,085,751.66. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 71,589 shares of company stock worth $18,545,595. 8.90% of the stock is owned by corporate insiders.

Amazon.com Company Profile

Amazon.com, Inc. is a technology and e-commerce company founded by Jeff Bezos in 1994 as an online bookstore. It has since grown into a global business serving consumers, sellers, developers, enterprises and content creators. Amazon operates online stores and marketplaces, where it sells products directly and enables third-party sellers to reach customers. Its other businesses include Amazon Web Services, which provides cloud computing and related services; digital advertising; Prime memberships; and entertainment offerings such as streaming video and music.