Summit Financial Group Inc. Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial Group Inc. reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 294 shares of the e-commerce giant’s stock after selling 25 shares during the period. Summit Financial Group Inc.’s holdings in Amazon.com were worth $510,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMZN. Thoroughbred Financial Services LLC boosted its position in Amazon.com by 191,406.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 9,307,191 shares of the e-commerce giant’s stock valued at $930,719,000 after buying an additional 9,302,331 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Amazon.com by 3,787.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,590,645 shares of the e-commerce giant’s stock valued at $6,799,352,000 after buying an additional 3,498,279 shares during the last quarter. Viking Global Investors LP boosted its position in Amazon.com by 157.6% in the 2nd quarter. Viking Global Investors LP now owns 802,837 shares of the e-commerce giant’s stock valued at $1,520,276,000 after buying an additional 491,118 shares during the last quarter. Investec Asset Management LTD boosted its position in Amazon.com by 186.8% in the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the e-commerce giant’s stock valued at $430,045,000 after buying an additional 422,352 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Amazon.com by 1.6% in the 2nd quarter. BlackRock Inc. now owns 26,082,028 shares of the e-commerce giant’s stock valued at $49,389,711,000 after buying an additional 415,448 shares during the last quarter. 55.71% of the stock is owned by institutional investors.

NASDAQ AMZN traded up $18.44 during trading hours on Wednesday, reaching $1,723.95. The company’s stock had a trading volume of 144,814 shares, compared to its average volume of 3,146,367. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $1,780.26 and a 200 day simple moving average of $1,847.98. Amazon.com, Inc. has a 52 week low of $1,307.00 and a 52 week high of $2,035.80. The stock has a market cap of $853.23 billion, a PE ratio of 85.64, a PEG ratio of 2.21 and a beta of 1.54.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 25th. The e-commerce giant reported $5.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.29 by ($0.07). Amazon.com had a return on equity of 26.27% and a net margin of 4.80%. The business had revenue of $63.40 billion during the quarter, compared to the consensus estimate of $62.59 billion. During the same period in the prior year, the business earned $5.07 EPS. The business’s revenue was up 19.9% on a year-over-year basis. As a group, equities analysts predict that Amazon.com, Inc. will post 24.01 EPS for the current year.

In other Amazon.com news, CEO Jeffrey A. Wilke sold 2,800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $1,847.51, for a total value of $5,173,028.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $18,475,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Indra K. Nooyi bought 100 shares of the business’s stock in a transaction on Friday, October 4th. The stock was acquired at an average cost of $1,726.06 per share, for a total transaction of $172,606.00. Following the acquisition, the director now directly owns 250 shares of the company’s stock, valued at $431,515. The disclosure for this purchase can be found here. Insiders sold 22,443 shares of company stock worth $40,205,835 in the last three months. 16.10% of the stock is currently owned by corporate insiders.

AMZN has been the topic of several research analyst reports. Robert W. Baird set a $2,150.00 price target on shares of Amazon.com and gave the stock an “outperform” rating in a research report on Friday, July 26th. Mizuho reaffirmed a “buy” rating and set a $2,200.00 price target (up previously from $2,080.00) on shares of Amazon.com in a research report on Friday, July 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $2,200.00 price target (down previously from $2,300.00) on shares of Amazon.com in a research report on Monday, September 23rd. Wedbush reaffirmed a “buy” rating and set a $2,350.00 price target on shares of Amazon.com in a research report on Monday, July 22nd. Finally, MKM Partners reaffirmed a “buy” rating and set a $2,350.00 price target (up previously from $2,240.00) on shares of Amazon.com in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and forty-one have given a buy rating to the stock. Amazon.com presently has an average rating of “Buy” and a consensus price target of $2,256.29.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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