Secure Asset Management LLC Sells 25,294 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Secure Asset Management LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 51.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,249 shares of the e-commerce giant’s stock after selling 25,294 shares during the quarter. Amazon.com comprises 0.9% of Secure Asset Management LLC’s portfolio, making the stock its 18th biggest holding. Secure Asset Management LLC’s holdings in Amazon.com were worth $4,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $27,000. Accordant Advisory Group Inc boosted its holdings in shares of Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. LSV Asset Management purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $35,000. Perritt Capital Management Inc boosted its holdings in shares of Amazon.com by 72.7% in the 4th 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 during the period. Finally, Compass Planning Associates Inc purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $51,000. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, Director Keith Brian Alexander sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now owns 5,465 shares in the company, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the transaction, the chief executive officer now owns 506,974 shares in the company, valued at approximately $96,664,732.58. The trade was a 0.49% decrease in their position. 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. 9.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of recent research reports. DA Davidson dropped their target price on Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 14th. Raymond James restated an “outperform” rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Cantor Fitzgerald boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. JMP Securities restated a “market outperform” rating on shares of Amazon.com in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

Amazon.com Stock Performance

Shares of AMZN stock opened at $216.10 on Tuesday. The company has a market capitalization of $2.29 trillion, a P/E ratio of 39.08, a P/E/G ratio of 1.50 and a beta of 1.33. The business’s 50 day moving average is $196.38 and its two-hundred day moving average is $209.26. 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 12-month low of $151.61 and a 12-month high of $242.52.

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