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

Leo Wealth LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% in the third quarter, Holdings Channel reports. The institutional investor owned 138,074 shares of the e-commerce giant’s stock after selling 13,435 shares during the quarter. Amazon.com comprises about 2.4% of Leo Wealth LLC’s portfolio, making the stock its 9th biggest position. Leo Wealth LLC’s holdings in Amazon.com were worth $25,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PayPay Securities Corp lifted its position in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter worth $37,000. Christopher J. Hasenberg Inc boosted its position in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. bought a new position in Amazon.com in the first quarter valued at about $69,000. Finally, Innealta Capital LLC purchased a new stake in shares of Amazon.com in the 2nd quarter worth $77,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,011,423 shares of company stock valued at $1,249,093,896 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.6 %

AMZN stock opened at $197.12 on Monday. The company’s 50-day simple moving average is $193.00 and its 200-day simple moving average is $186.29. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90. The firm has a market cap of $2.07 trillion, a P/E ratio of 42.21, a PEG ratio of 1.33 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMZN. Scotiabank lifted their target price on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. TD Cowen lifted their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird boosted their target price on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler boosted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Telsey Advisory Group boosted their price target on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.77.

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.