Kennedy Investment Group Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Kennedy Investment Group cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,495 shares of the e-commerce giant’s stock after selling 262 shares during the quarter. Amazon.com comprises approximately 6.3% of Kennedy Investment Group’s holdings, making the stock its 3rd largest holding. Kennedy Investment Group’s holdings in Amazon.com were worth $12,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AMZN. Hamilton Point Investment Advisors LLC grew its stake in shares of Amazon.com by 7.8% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 3,893 shares of the e-commerce giant’s stock valued at $592,000 after buying an additional 282 shares during the last quarter. Grant GrossMendelsohn LLC boosted its holdings in Amazon.com by 20.4% during the 4th quarter. Grant GrossMendelsohn LLC now owns 3,090 shares of the e-commerce giant’s stock valued at $492,000 after acquiring an additional 523 shares during the period. First American Trust FSB grew its position in Amazon.com by 5.9% in the 4th quarter. First American Trust FSB now owns 154,745 shares of the e-commerce giant’s stock valued at $23,512,000 after acquiring an additional 8,619 shares during the last quarter. SVB Wealth LLC increased its stake in Amazon.com by 0.6% in the fourth quarter. SVB Wealth LLC now owns 430,064 shares of the e-commerce giant’s stock worth $65,344,000 after purchasing an additional 2,529 shares during the period. Finally, Prosperitas Financial LLC lifted its position in shares of Amazon.com by 7.9% during the fourth quarter. Prosperitas Financial LLC now owns 33,733 shares of the e-commerce giant’s stock worth $5,125,000 after purchasing an additional 2,482 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is owned by company insiders.

Amazon.com Price Performance

NASDAQ:AMZN opened at $178.50 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The company has a 50 day moving average price of $182.54 and a 200-day moving average price of $181.21. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The firm has a market cap of $1.86 trillion, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Equities research analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on AMZN shares. UBS Group upped their price target on shares of Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price target on Amazon.com from $232.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, August 26th. BMO Capital Markets lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird increased their price target on Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. One analyst has 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, the stock currently has an average rating of “Buy” and an average target price of $221.36.

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.