GABELLI & Co INVESTMENT ADVISERS INC. Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

GABELLI & Co INVESTMENT ADVISERS INC. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,380 shares of the e-commerce giant’s stock after selling 1,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Amazon.com were worth $3,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AMZN. State Street Corp increased its position in shares of Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the last quarter. FMR LLC increased its position in shares of Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after buying an additional 90,167,792 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Amazon.com by 1,944.4% in the 2nd quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after buying an additional 57,043,701 shares in the last quarter. 57.64% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

AMZN stock opened at $90.73 on Friday. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $170.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. The stock’s 50 day moving average price is $95.85 and its 200 day moving average price is $102.99. The firm has a market cap of $929.73 billion, a P/E ratio of -338.53, a PEG ratio of 3.87 and a beta of 1.25.

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Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The business had revenue of $149.20 billion for the quarter, compared to analysts’ expectations of $145.72 billion. During the same period in the prior year, the company earned $1.39 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMZN shares. MKM Partners lowered their target price on shares of Amazon.com from $145.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Telsey Advisory Group lowered their target price on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, January 24th. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of Amazon.com in a report on Friday, February 3rd. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Amazon.com in a report on Friday, February 3rd. Finally, Oppenheimer upped their target price on shares of Amazon.com from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.87.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total transaction of $568,293.00. Following the transaction, the chief executive officer now owns 124,180 shares of the company’s stock, valued at approximately $13,837,377.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the transaction, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at approximately $13,837,377.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew R. Jassy sold 23,874 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total value of $2,367,107.10. Following the completion of the transaction, the chief executive officer now directly owns 1,964,506 shares in the company, valued at $194,780,769.90. The disclosure for this sale can be found here. Insiders have sold a total of 71,394 shares of company stock valued at $6,994,626 in the last quarter. 12.70% of the stock is currently owned by company insiders.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.