Cranbrook Wealth Management LLC Sells 696 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cranbrook Wealth Management LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,641 shares of the e-commerce giant’s stock after selling 696 shares during the period. Cranbrook Wealth Management LLC’s holdings in Amazon.com were worth $883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Amazon.com during the fourth quarter valued at $27,266,582,000. GAMMA Investing LLC boosted its position in Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares during the last quarter. Capital World Investors grew its stake in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Vanguard Group Inc. increased its position in shares of Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at $95,776,017.26. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $24,050,626.20. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,037 shares of company stock valued at $20,531,075. Insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AMZN shares. Stifel Nicolaus cut their target price on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Oppenheimer dropped their price target on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Barclays reduced their price objective on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Bank of America lifted their target price on Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group reduced their price target on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

Amazon.com Trading Down 1.1%

Shares of AMZN opened at $212.52 on Friday. The stock has a market capitalization of $2.26 trillion, a PE ratio of 34.61, a P/E/G ratio of 1.61 and a beta of 1.33. The company’s fifty day moving average is $197.91 and its 200 day moving average is $209.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued 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. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same period last year, the company posted $0.98 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share 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.