Washburn Capital Management Inc. Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Washburn Capital Management Inc. lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 9.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,820 shares of the e-commerce giant’s stock after selling 1,020 shares during the quarter. Amazon.com accounts for 1.1% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Washburn Capital Management Inc.’s holdings in Amazon.com were worth $1,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Laurel Wealth Planning LLC boosted its stake in shares of Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after purchasing an additional 304 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Amazon.com during the 4th quarter worth about $37,000. Swaine & Leidel Wealth Services LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth about $38,000. Atlantic Private Wealth LLC acquired a new stake in shares of Amazon.com during the 1st quarter worth about $43,000. Finally, Goodwin Investment Advisory boosted its stake in shares of Amazon.com by 1,225.8% during the 2nd quarter. Goodwin Investment Advisory now owns 411 shares of the e-commerce giant’s stock worth $44,000 after purchasing an additional 380 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMZN shares. Morgan Stanley reaffirmed an “overweight” rating and set a $175.00 price target on shares of Amazon.com in a research note on Monday, October 2nd. The Goldman Sachs Group decreased their target price on shares of Amazon.com from $180.00 to $175.00 in a research report on Thursday, October 12th. BNP Paribas raised shares of Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $175.00 target price on shares of Amazon.com in a research report on Tuesday, October 17th. Finally, Credit Suisse Group raised their target price on shares of Amazon.com from $176.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Two analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.93.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 16,800 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $133.61, for a total transaction of $2,244,648.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $6,546,890. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $138.48, for a total value of $69,240.00. Following the completion of the sale, the chief executive officer now owns 106,520 shares of the company’s stock, valued at $14,750,889.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian T. Olsavsky sold 16,800 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $133.61, for a total transaction of $2,244,648.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $6,546,890. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,845 shares of company stock valued at $17,035,294. 12.30% of the stock is currently owned by company insiders.

Amazon.com Stock Up 1.6 %

AMZN stock opened at $145.18 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.74. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $147.29. The firm has a fifty day moving average price of $133.72 and a two-hundred day moving average price of $129.41. The firm has a market cap of $1.50 trillion, a price-to-earnings ratio of 75.22, a PEG ratio of 1.93 and a beta of 1.17.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 26th. The e-commerce giant reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.27. Amazon.com had a net margin of 3.62% and a return on equity of 12.75%. The company had revenue of $143.08 billion during the quarter, compared to the consensus estimate of $141.53 billion. Research analysts predict that Amazon.com, Inc. will post 2.6 EPS for the current year.

Amazon.com Profile

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