StoneCrest Wealth Management Inc. Has $5.49 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

StoneCrest Wealth Management Inc. decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,836 shares of the e-commerce giant’s stock after selling 1,600 shares during the period. Amazon.com makes up 3.5% of StoneCrest Wealth Management Inc.’s portfolio, making the stock its 7th biggest position. StoneCrest Wealth Management Inc.’s holdings in Amazon.com were worth $5,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMZN. Momentous Wealth Management Inc. bought a new position in Amazon.com during the 4th quarter valued at $749,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after buying an additional 39,696 shares during the period. Bearing Point Capital LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at $12,014,000. Evergreen Capital Management LLC boosted its stake in Amazon.com by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after buying an additional 1,198 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Amazon.com by 173.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock worth $759,434,000 after acquiring an additional 2,196,353 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares in the company, valued at approximately $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Keith Brian Alexander sold 1,000 shares of the business’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 completion of the transaction, the director now directly owns 5,465 shares in the company, valued at $1,151,366.20. The trade was a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock valued at $20,531,075 in the last ninety days. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMZN shares. Citigroup reiterated a “buy” rating on shares of Amazon.com in a research report on Monday, June 2nd. Tigress Financial lifted their price objective on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Bank of America increased their target price on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. BNP Paribas upgraded shares of Amazon.com to a “hold” rating in a report on Wednesday, April 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.89.

Amazon.com Trading Down 1.1%

Shares of AMZN opened at $212.52 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.26 trillion, a PE ratio of 34.61, a PEG ratio of 1.61 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a 50 day simple moving average of $197.91 and a 200-day simple moving average of $209.34.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data 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 24.14% and a net margin of 10.14%. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.