Pacific Sage Partners LLC Has $12.40 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pacific Sage Partners LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,196 shares of the e-commerce giant’s stock after selling 275 shares during the quarter. Amazon.com accounts for approximately 2.8% of Pacific Sage Partners LLC’s holdings, making the stock its 7th largest position. Pacific Sage Partners LLC’s holdings in Amazon.com were worth $12,404,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Amazon.com during the 4th quarter valued at $27,266,582,000. GAMMA Investing LLC increased its position in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after acquiring an additional 30,104,520 shares during the last quarter. Capital World Investors boosted its position in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. grew its stake 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 period. 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. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Wedbush reissued an “outperform” rating and set a $235.00 price objective (up previously from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Barclays decreased their target price on Amazon.com from $265.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Telsey Advisory Group reissued an “outperform” rating and set a $235.00 price target on shares of Amazon.com in a report on Thursday, July 10th. Finally, Citizens Jmp assumed coverage on Amazon.com in a research report on Thursday, July 10th. They issued a “strong-buy” rating for the company. Three investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.42.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the completion of the transaction, the chief executive officer owned 514,550 shares in the company, valued at $113,231,873. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,442,187 shares of the company’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $225.89, for a total value of $551,665,621.43. Following the completion of the transaction, the insider directly owned 895,279,901 shares in the company, valued at $202,234,776,836.89. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,602,037 shares of company stock worth $3,044,172,641 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $226.35 on Wednesday. The business’s 50 day moving average price is $211.52 and its 200-day moving average price is $208.50. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a market cap of $2.40 trillion, a P/E ratio of 36.86, a P/E/G ratio of 1.69 and a beta of 1.33. 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 (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating 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 business 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 firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.