Powell Investment Advisors LLC Sells 547 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Powell Investment Advisors LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,494 shares of the e-commerce giant’s stock after selling 547 shares during the quarter. Amazon.com comprises about 2.9% of Powell Investment Advisors LLC’s holdings, making the stock its 9th largest position. Powell Investment Advisors LLC’s holdings in Amazon.com were worth $5,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after purchasing an additional 13,134,632 shares during the period. Norges Bank acquired a new stake in Amazon.com during the 4th quarter worth approximately $17,700,551,000. Northern Trust Corp raised its holdings in Amazon.com by 3.7% in the third quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock valued at $11,736,905,000 after buying an additional 3,260,411 shares during the period. Jennison Associates LLC lifted its position in Amazon.com by 2.5% during the fourth quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock valued at $8,565,017,000 after buying an additional 1,389,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Amazon.com by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after buying an additional 1,525,922 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the sale, the chief executive officer now owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the sale, the chief executive officer now owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,548 shares of company stock valued at $12,774,204. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Trading Down 1.2 %

Shares of NASDAQ:AMZN opened at $197.59 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $184.68 and its 200 day moving average price is $173.98. The company has a market cap of $2.06 trillion, a PE ratio of 55.35, a P/E/G ratio of 1.38 and a beta of 1.15. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $200.43.

Amazon.com (NASDAQ:AMZNGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts anticipate that Amazon.com, Inc. will post 4.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Barclays boosted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Tigress Financial increased their target price on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their price target on Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI increased their price objective on shares of Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $215.86.

Read Our Latest Stock Analysis on Amazon.com

Amazon.com Profile

(Free Report)

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.

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

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