Cannon Advisors Inc. Has $3.98 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Cannon Advisors Inc. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,129 shares of the e-commerce giant’s stock after selling 1,543 shares during the quarter. Amazon.com comprises about 3.4% of Cannon Advisors Inc.’s holdings, making the stock its 8th largest position. Cannon Advisors Inc.’s holdings in Amazon.com were worth $3,977,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AMZN. Swedbank AB lifted its stake in Amazon.com by 1.4% in the 3rd quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock worth $2,484,864,000 after purchasing an additional 183,610 shares in the last quarter. Sassicaia Capital Advisers LLC bought a new position in shares of Amazon.com during the 3rd quarter valued at $279,000. Howard Capital Management Group LLC lifted its stake in shares of Amazon.com by 0.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant’s stock valued at $66,434,000 after acquiring an additional 897 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Amazon.com by 5.1% during the 3rd quarter. Principal Financial Group Inc. now owns 20,166,314 shares of the e-commerce giant’s stock valued at $3,757,589,000 after buying an additional 984,570 shares during the last quarter. Finally, Moran Wealth Management LLC grew its stake in shares of Amazon.com by 18.0% in the third quarter. Moran Wealth Management LLC now owns 18,225 shares of the e-commerce giant’s stock worth $3,396,000 after purchasing an additional 2,782 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities lifted their target price on shares of Amazon.com from $236.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Mizuho reduced their price target on shares of Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Bank of America reduced their price objective on Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Oppenheimer lowered their price target on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Citizens Jmp dropped their price objective on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.50.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,798 shares of company stock valued at $23,341,803. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $190.20 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The firm has a 50 day moving average of $190.94 and a 200 day moving average of $207.76. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.