Symphony Financial Ltd. Co. Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Symphony Financial Ltd. Co. lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 74.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,349 shares of the e-commerce giant’s stock after selling 55,284 shares during the quarter. Amazon.com accounts for 2.1% of Symphony Financial Ltd. Co.’s investment portfolio, making the stock its 13th biggest position. Symphony Financial Ltd. Co.’s holdings in Amazon.com were worth $3,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $35,000. Perritt Capital Management Inc lifted its stake in Amazon.com by 72.7% during the fourth 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 last quarter. Inlight Wealth Management LLC bought a new position in Amazon.com during the first quarter worth $40,000. Finally, Capitol Family Office Inc. bought a new position in Amazon.com during the first quarter worth $42,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent research reports. Westpark Capital reissued a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Stifel Nicolaus cut their price target on Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Scotiabank cut their price target on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Oppenheimer raised their price target on Amazon.com from $215.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Finally, BNP Paribas Exane raised shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price objective on the stock in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.42.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $225.69 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The company has a market cap of $2.40 trillion, a PE ratio of 36.76, a P/E/G ratio of 1.69 and a beta of 1.33. The business has a 50-day simple moving average of $210.69 and a two-hundred day simple moving average of $208.38. 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 results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the sale, the chief executive officer directly owned 2,148,694 shares in the company, valued at approximately $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian T. Olsavsky sold 17,750 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the sale, the chief financial officer owned 49,000 shares of the company’s stock, valued at approximately $9,876,930. The trade was a 26.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,886,613 shares of company stock valued at $1,531,840,610 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

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.