Flagship Harbor Advisors LLC Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Flagship Harbor Advisors LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,934 shares of the e-commerce giant’s stock after selling 1,735 shares during the quarter. Amazon.com makes up about 1.8% of Flagship Harbor Advisors LLC’s investment portfolio, making the stock its 9th largest position. Flagship Harbor Advisors LLC’s holdings in Amazon.com were worth $34,805,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new stake in Amazon.com during the 4th quarter valued at about $800,000. Capital & Planning LLC boosted its holdings in Amazon.com by 72.1% during the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant’s stock valued at $856,000 after acquiring an additional 1,635 shares during the period. LaFleur & Godfrey LLC boosted its holdings in Amazon.com by 1.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant’s stock valued at $10,839,000 after acquiring an additional 860 shares during the period. Brighton Jones LLC boosted its holdings in Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after acquiring an additional 397,007 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Amazon.com during the 4th quarter valued at about $301,650,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMZN has been the subject of several analyst reports. BNP Paribas Exane upgraded Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 target price for the company in a report on Friday, June 27th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Bank of America increased their price objective on Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Barclays dropped their price objective on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company increased their price objective on Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $249.42.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 3,100,000 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $221.42, for a total value of $686,402,000.00. Following the transaction, the insider directly owned 905,679,901 shares in the company, valued at $200,535,643,679.42. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew S. Garman sold 20,923 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,886,613 shares of company stock worth $1,531,840,610. Company insiders own 9.70% of the company’s stock.

Amazon.com Stock Up 1.2%

Amazon.com stock opened at $225.02 on Friday. The firm has a market cap of $2.39 trillion, a price-to-earnings ratio of 36.65, a PEG ratio of 1.69 and a beta of 1.33. The stock has a fifty day simple moving average of $209.90 and a two-hundred day simple moving average of $208.49. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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 business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Equities 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.