Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,097 shares of the e-commerce giant’s stock after selling 977 shares during the period. Elevation Wealth Partners LLC’s holdings in Amazon.com were worth $1,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMZN. Tallon Kerry Patrick purchased a new stake in Amazon.com in the 4th quarter worth approximately $800,000. Capital & Planning LLC lifted its holdings in Amazon.com by 72.1% in the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock worth $856,000 after buying an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock worth $10,839,000 after buying an additional 860 shares in the last quarter. Brighton Jones LLC increased its position in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after purchasing an additional 397,007 shares during the last quarter. Finally, Compass Wealth Management LLC increased its position in shares of Amazon.com by 1.7% in the 4th quarter. Compass Wealth Management LLC now owns 6,023 shares of the e-commerce giant’s stock worth $1,321,000 after purchasing an additional 100 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMZN shares. Rosenblatt Securities boosted their price objective on shares of Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group reaffirmed a “buy” rating on shares of Amazon.com in a research note on Tuesday, May 6th. Truist Financial reduced their price target on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JMP Securities reaffirmed a “market outperform” rating on shares of Amazon.com in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating 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. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $244.89.

Insider Buying and Selling

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was 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 approximately $95,776,017.26. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock worth $20,531,075 in the last quarter. 9.70% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $212.10 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm’s fifty day simple moving average is $195.47 and its 200 day simple moving average is $209.16. The firm has a market capitalization of $2.25 trillion, a PE ratio of 38.35, a PEG ratio of 1.50 and a beta of 1.33.

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

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.