Rep. Greg Landsman Sells Off Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Representative Greg Landsman (D-Ohio) recently sold shares of Amazon.com, Inc. (NASDAQ:AMZN). In a filing disclosed on November 14th, the Representative disclosed that they had sold between $15,001 and $50,000 in Amazon.com stock on October 15th. The trade occurred in the Representative’s “ROCKEFELLER CAPITAL MANAGEMENT (2)” account.

Representative Greg Landsman also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Cheniere Energy (NYSE:LNG) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Phillips 66 (NYSE:PSX) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Diamondback Energy (NASDAQ:FANG) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Linde (NASDAQ:LIN) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of CrowdStrike (NASDAQ:CRWD) on 10/15/2024.
• Sold $1,001 – $15,000 in shares of Pfizer (NYSE:PFE) on 10/15/2024.
• Sold $15,001 – $50,000 in shares of Exxon Mobil (NYSE:XOM) on 10/15/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 9/10/2024.

Amazon.com Price Performance

NASDAQ AMZN opened at $202.61 on Friday. The firm’s 50 day moving average is $191.16 and its 200-day moving average is $185.69. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.13 trillion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $139.52 and a 12-month high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the business earned $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in Amazon.com by 31.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after purchasing an additional 43,759 shares in the last quarter. SWP Financial LLC acquired a new stake in Amazon.com in the first quarter valued at approximately $210,000. Geneva Partners LLC grew its holdings in shares of Amazon.com by 24.1% during the first quarter. Geneva Partners LLC now owns 46,995 shares of the e-commerce giant’s stock valued at $8,477,000 after buying an additional 9,125 shares during the last quarter. Concord Wealth Partners grew its holdings in Amazon.com by 27.6% during the first quarter. Concord Wealth Partners now owns 40,114 shares of the e-commerce giant’s stock worth $7,236,000 after buying an additional 8,687 shares in the last quarter. Finally, Summit Place Financial Advisors LLC boosted its holdings in Amazon.com by 2.9% during the 1st quarter. Summit Place Financial Advisors LLC now owns 16,472 shares of the e-commerce giant’s stock worth $2,971,000 after acquiring an additional 465 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC lifted their price target on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price for the company. in a research report on Friday, August 2nd. Piper Sandler increased their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company downgraded Amazon.com from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $235.45.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 22.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,053,349 shares of company stock worth $1,256,503,289. Insiders own 10.80% of the company’s stock.

About Representative Landsman

Greg Landsman (Democratic Party) is a member of the U.S. House, representing Ohio’s 1st Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Landsman is also a member of the Cincinnati City Council in Ohio. He assumed office on January 2, 2018. His current term ends on January 1, 2024. Landsman (Democratic Party) is running for re-election to the U.S. House to represent Ohio’s 1st Congressional District. He declared candidacy for the 2024 election. Greg Landsman was born in Cincinnati, Ohio, and lives in Mt. Washington, Ohio. Landsman earned a B.A. in economics and political science from Ohio University and an M.A. in theological studies, religion, and public policy from Harvard University in 2004. His career experience includes working as the executive director of The Strive Partnership with the KnowledgeWorks Foundation and the director of the Ohio Governor’s Office of Faith-Based and Community Initiatives.

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.