WESPAC Advisors LLC Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

WESPAC Advisors LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 13.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,686 shares of the e-commerce giant’s stock after selling 426 shares during the period. WESPAC Advisors LLC’s holdings in Amazon.com were worth $519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Garrison Point Advisors LLC boosted its stake in shares of Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. lifted its position in Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its holdings in Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares during the period. Stordahl Capital Management Inc. increased its position in Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares in the last quarter. Finally, Lutz Financial Services LLC raised its stake in shares of Amazon.com by 1.9% in the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Barclays raised their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Roth Mkm upped their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America reduced their price target on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Benchmark restated a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average target price of $222.84.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold a total of 6,099,607 shares of company stock valued at $1,219,702,872 in the last quarter. 10.80% of the stock is currently owned by insiders.

Amazon.com Trading Down 0.7 %

Shares of AMZN opened at $192.53 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.02 trillion, a PE ratio of 53.93, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The stock’s fifty day simple moving average is $178.59 and its 200-day simple moving average is $182.35. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The company 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 21.39%. As a group, research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

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.