PBMares Wealth Management LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

PBMares Wealth Management LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 15.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,817 shares of the e-commerce giant’s stock after selling 1,937 shares during the quarter. PBMares Wealth Management LLC’s holdings in Amazon.com were worth $2,058,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC bought a new position in shares of Amazon.com during the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. bought a new stake in Amazon.com in the fourth quarter worth $27,000. LSV Asset Management purchased a new stake in Amazon.com during the fourth quarter valued at about $35,000. Inlight Wealth Management LLC bought a new position in shares of Amazon.com during the first quarter valued at about $40,000. Finally, Perritt Capital Management Inc grew its stake in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the sale, the chief executive officer directly owned 2,148,694 shares in the company, valued at $432,532,102.20. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,602,037 shares of company stock worth $3,044,172,641. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $226.35 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $211.52 and its two-hundred day moving average price is $208.50. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a market capitalization 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.

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, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Ratings Changes

AMZN has been the topic of several recent analyst reports. Tigress Financial raised their target price on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Evercore ISI dropped their price target on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. BNP Paribas upgraded shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Cantor Fitzgerald upped their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Mizuho reduced their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a 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 two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average price target of $249.42.

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.