Cullinan Associates Inc. Sells 7,451 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cullinan Associates Inc. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,393 shares of the e-commerce giant’s stock after selling 7,451 shares during the quarter. Amazon.com accounts for 1.7% of Cullinan Associates Inc.’s investment portfolio, making the stock its 13th largest position. Cullinan Associates Inc.’s holdings in Amazon.com were worth $24,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new position in Amazon.com in the 4th quarter worth about $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the 4th quarter worth about $27,000. LSV Asset Management bought a new position in Amazon.com in the 4th quarter worth about $35,000. Inlight Wealth Management LLC bought a new position in Amazon.com in the 1st quarter worth about $40,000. Finally, Perritt Capital Management Inc boosted its stake in 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. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

AMZN has been the subject of several analyst reports. Jefferies Financial Group cut their target price on Amazon.com from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Sanford C. Bernstein set a $235.00 target price on Amazon.com and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Telsey Advisory Group reiterated an “outperform” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $260.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Mizuho dropped 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. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $248.31.

Amazon.com Stock Down 0.1%

NASDAQ AMZN opened at $222.26 on Friday. The stock’s 50-day moving average price is $209.20 and its 200-day moving average price is $208.66. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a market capitalization of $2.36 trillion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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 firm had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the sale, the senior vice president owned 47,030 shares of the company’s stock, valued at approximately $9,519,342.30. This trade represents a 22.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the vice president directly owned 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,886,613 shares of company stock worth $1,531,840,610 over the last quarter. Company insiders own 9.70% of the company’s stock.

Amazon.com Company 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.