REDW Wealth LLC Sells 7,231 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

REDW Wealth LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 50.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,057 shares of the e-commerce giant’s stock after selling 7,231 shares during the period. REDW Wealth LLC’s holdings in Amazon.com were worth $1,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rench Wealth Management Inc. raised its stake in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after buying an additional 3,703 shares during the period. Blankinship & Foster LLC raised its position in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares during the period. Umpqua Bank lifted its holdings in shares of Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares in the last quarter. One Wealth Capital Management LLC acquired a new stake in Amazon.com in the 4th quarter valued at $4,270,000. Finally, Floyd Financial Group LLC bought a new stake in Amazon.com during the 4th quarter valued at $4,494,000. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, April 3rd. HSBC lifted their price target on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wedbush reissued an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Oppenheimer raised their target price on Amazon.com from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Bank of America decreased their price target on Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $258.19.

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 14,620 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $10,933,860. This represents a 22.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $181.22 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock’s 50-day simple moving average is $205.37 and its 200 day simple moving average is $208.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.