Castle Rock Wealth Management LLC Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Castle Rock Wealth Management LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,985 shares of the e-commerce giant’s stock after selling 6,061 shares during the quarter. Amazon.com makes up 2.3% of Castle Rock Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Castle Rock Wealth Management LLC’s holdings in Amazon.com were worth $8,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AMZN. Cable Hill Partners LLC grew its position in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after buying an additional 44 shares during the period. Quattro Financial Advisors LLC grew its holdings 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 during the period. Northern Capital Management Inc. increased its stake in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock valued at $1,613,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management lifted its holdings in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after purchasing an additional 47 shares during the last quarter. Finally, Balanced Wealth Group LLC lifted its holdings in shares of Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock valued at $705,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 0.0%

Shares of AMZN stock opened at $213.24 on Friday. 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 fifty day simple moving average of $194.64 and a two-hundred day simple moving average of $209.13. The firm has a market capitalization of $2.26 trillion, a PE ratio of 38.56, a PEG ratio of 1.50 and a beta of 1.33. 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 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 return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent research reports. Tigress Financial upped their price target on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut their target price on Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Mizuho lowered their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Truist Financial dropped their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Barclays reduced their price objective on shares of Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.89.

Insider Activity

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the sale, the chief executive officer now owns 2,148,694 shares in the company, valued at $432,532,102.20. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last quarter. Insiders own 9.70% of the company’s stock.

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.