Seven Springs Wealth Group LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Seven Springs Wealth Group LLC trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,971 shares of the e-commerce giant’s stock after selling 667 shares during the quarter. Amazon.com makes up 2.1% of Seven Springs Wealth Group LLC’s holdings, making the stock its 11th biggest position. Seven Springs Wealth Group LLC’s holdings in Amazon.com were worth $5,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $30,000. Christopher J. Hasenberg Inc raised its position in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $46,000. Steph & Co. bought a new stake in shares of Amazon.com in the first quarter valued at approximately $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the first quarter valued at approximately $69,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of AMZN stock opened at $192.53 on Thursday. The stock has a 50 day moving average of $178.59 and a two-hundred day moving average of $182.35. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The company has a market capitalization of $2.02 trillion, a P/E ratio of 53.93, a P/E/G ratio of 1.46 and a beta of 1.14.

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

Analysts Set New Price Targets

AMZN has been the topic of several research reports. The Goldman Sachs Group lowered their price target on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus decreased their target price on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group decreased their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Amazon.com in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $222.84.

Insider Activity

In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,099,607 shares of company stock valued at $1,219,702,872. Company insiders own 10.80% of the company’s stock.

Amazon.com Company 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.