Simplicity Wealth LLC Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Simplicity Wealth LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 85.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,862 shares of the e-commerce giant's stock after selling 263,165 shares during the quarter. Amazon.com comprises approximately 0.8% of Simplicity Wealth LLC's investment portfolio, making the stock its 22nd biggest position. Simplicity Wealth LLC's holdings in Amazon.com were worth $8,545,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMZN. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant's stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new position in Amazon.com during the 3rd quarter worth about $37,000. Christopher J. Hasenberg Inc raised its position in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant's stock valued at $58,000 after purchasing an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new stake in Amazon.com in the 1st quarter valued at about $69,000. Finally, Innealta Capital LLC acquired a new stake in Amazon.com in the 2nd quarter valued at about $77,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AMZN. Robert W. Baird increased their price target on Amazon.com from $213.00 to $220.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Rosenblatt Securities increased their price target on Amazon.com from $221.00 to $236.00 and gave the company a "buy" rating in a research report on Friday, November 1st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a research report on Friday, November 1st. Sanford C. Bernstein increased their price target on Amazon.com from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Scotiabank increased their price target on Amazon.com from $245.00 to $246.00 and gave the company a "sector outperform" rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $234.55.

Amazon.com Price Performance

AMZN stock traded down $1.87 during midday trading on Friday, hitting $208.18. 36,075,846 shares of the stock were exchanged, compared to its average volume of 37,449,628. The stock's 50-day moving average price is $187.83 and its 200-day moving average price is $184.62. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 44.58, a PEG ratio of 1.40 and a beta of 1.14. Amazon.com, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $212.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analysts' expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. Research analysts predict that Amazon.com, Inc. will post 5.24 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company's stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP David Zapolsky sold 9,490 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.88, for a total value of $1,716,551.20. Following the completion of the transaction, the senior vice president now directly owns 64,610 shares of the company's stock, valued at $11,686,656.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company's stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,859 shares of company stock valued at $10,215,097. 10.80% of the stock is owned by insiders.

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.