Peak Financial Advisors LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Peak Financial Advisors LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,729 shares of the e-commerce giant’s stock after selling 751 shares during the quarter. Amazon.com comprises 1.9% of Peak Financial Advisors LLC’s portfolio, making the stock its 12th largest position. Peak Financial Advisors LLC’s holdings in Amazon.com were worth $3,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the fourth quarter worth approximately $30,000. Strid Group LLC bought a new position in shares of Amazon.com in the fourth quarter worth approximately $43,000. Harbor Investment Advisory LLC lifted its stake in shares of Amazon.com by 0.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 1,988 shares in the last quarter. Clarity Asset Management Inc. bought a new position in Amazon.com during the fourth quarter valued at approximately $46,000. Finally, Steph & Co. bought a new position in Amazon.com during the first quarter valued at approximately $65,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $177.04 on Friday. The firm has a 50-day moving average price of $183.78 and a 200-day moving average price of $180.98. The firm has a market capitalization of $1.84 trillion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. As a group, equities research analysts forecast that Amazon.com, Inc. will post 4.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMZN. BMO Capital Markets increased their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America lowered their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $225.00 price objective on shares of Amazon.com in a research report on Wednesday, July 31st. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Sanford C. Bernstein upped their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $221.69.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now owns 523,253 shares in the company, valued at approximately $92,767,524.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the sale, the chief executive officer now owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock worth $1,221,241,837 in the last 90 days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Profile

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.