Connors Investor Services Inc. Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Connors Investor Services Inc. reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,074 shares of the e-commerce giant’s stock after selling 1,462 shares during the period. Amazon.com makes up about 2.9% of Connors Investor Services Inc.’s investment portfolio, making the stock its 6th largest position. Connors Investor Services Inc.’s holdings in Amazon.com were worth $30,511,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Accordant Advisory Group Inc boosted its stake in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter worth $27,000. LSV Asset Management acquired a new position in Amazon.com in the fourth quarter worth $35,000. Perritt Capital Management Inc boosted its stake in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Quattro Financial Advisors LLC boosted its stake in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMZN shares. Wells Fargo & Company cut their price target on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. DA Davidson cut their target price on Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Phillip Securities lowered Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 10th. Finally, Barclays cut their target price on Amazon.com from $265.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $244.09.

Amazon.com Trading Down 1.0%

Shares of Amazon.com stock opened at $204.07 on Wednesday. The company has a fifty day moving average of $189.68 and a 200 day moving average of $208.79. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a market capitalization of $2.17 trillion, a P/E ratio of 36.90, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

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. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,620 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $10,933,860. This trade represents a 22.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the transaction, the director now owns 5,465 shares of the company’s stock, valued at approximately $1,151,366.20. The trade was a 15.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,081 shares of company stock valued at $17,421,044. Corporate insiders own 9.70% of the company’s stock.

Amazon.com 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.