Larry Mathis Financial Planning LLC Sells 2,848 Shares of Amazon.com, Inc. $AMZN

Larry Mathis Financial Planning LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 62.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,696 shares of the e-commerce giant’s stock after selling 2,848 shares during the period. Larry Mathis Financial Planning LLC’s holdings in Amazon.com were worth $423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMZN. Leo Wealth LLC bought a new stake in shares of Amazon.com in the 3rd quarter worth about $5,161,000. Level Wealth Management LLC raised its position in shares of Amazon.com by 136.7% during the 3rd quarter. Level Wealth Management LLC now owns 2,793 shares of the e-commerce giant’s stock valued at $696,000 after buying an additional 1,613 shares in the last quarter. Holos Integrated Wealth LLC lifted its holdings in shares of Amazon.com by 5.7% in the 3rd quarter. Holos Integrated Wealth LLC now owns 6,712 shares of the e-commerce giant’s stock valued at $1,762,000 after acquiring an additional 360 shares during the last quarter. Marest Capital LLC lifted its holdings in shares of Amazon.com by 0.5% in the 3rd quarter. Marest Capital LLC now owns 12,779 shares of the e-commerce giant’s stock valued at $3,184,000 after acquiring an additional 60 shares during the last quarter. Finally, Aries Wealth Management lifted its holdings in shares of Amazon.com by 0.8% in the 3rd quarter. Aries Wealth Management now owns 43,785 shares of the e-commerce giant’s stock valued at $10,909,000 after acquiring an additional 358 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $266.17 on Thursday. The company has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.06 and a beta of 1.49. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $287.20. The firm’s 50-day moving average is $254.41 and its 200 day moving average is $244.06. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

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

More Amazon.com News

Here’s some of the latest news about AMZN:

• Positive Sentiment: Anthropic could add strategic and financial upside. Amazon is a major Anthropic investor and cloud provider; an anticipated IPO could raise the estimated value of its stake substantially, while Anthropic’s infrastructure commitments may generate AWS business. Any IPO valuation gain remains prospective, not cash already realized. Anthropic IPO article
• Positive Sentiment: Amazon received a Stock Grader upgrade. Its rating moved from Weak to Neutral, with return on equity and analyst earnings revisions identified as strengths, although several growth and cash-flow measures remained weak. Stock Grader article
• Negative Sentiment: Legal proceedings add uncertainty. Italian prosecutors are pursuing allegations involving unpaid import VAT and customs duties, while a U.S. court certified a class action alleging biometric-data violations through Amazon Photos. Both matters could create financial and reputational costs; the allegations have not been proven. Italy VAT case article Biometric-data lawsuit article

Insider Activity

In related news, SVP David Zapolsky sold 9,258 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $259.77, for a total transaction of $2,404,950.66. Following the completion of the sale, the senior vice president directly owned 41,190 shares of the company’s stock, valued at approximately $10,699,926.30. This trade represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 6,362 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total value of $1,647,821.62. Following the transaction, the chief executive officer owned 476,681 shares of the company’s stock, valued at approximately $123,465,145.81. The trade was a 1.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 71,589 shares of company stock valued at $18,545,595. 8.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on AMZN shares. Evercore reiterated an “outperform” rating on shares of Amazon.com in a research report on Friday, October 30th. Deutsche Bank restated a “buy” rating and set a $325.00 price objective (up from $315.00) on shares of Amazon.com in a research report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating on shares of Amazon.com in a research note on Friday, October 30th. Raymond James Financial reiterated an “outperform” rating and issued a $250.00 target price on shares of Amazon.com in a report on Friday, October 30th. Finally, Robert W. Baird set a $310.00 target price on Amazon.com and gave the stock an “outperform” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

About Amazon.com

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.