Summerhill Capital Management lnc. Sells 20,215 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summerhill Capital Management lnc. cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 36.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,175 shares of the e-commerce giant’s stock after selling 20,215 shares during the quarter. Amazon.com comprises about 9.0% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 5th largest position. Summerhill Capital Management lnc.’s holdings in Amazon.com were worth $6,692,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Assets Advisory LLC grew its position in shares of Amazon.com by 217.9% during the first quarter. Global Assets Advisory LLC now owns 111,389 shares of the e-commerce giant’s stock worth $20,553,000 after buying an additional 76,348 shares in the last quarter. Steph & Co. boosted its holdings in Amazon.com by 29.9% in the first quarter. Steph & Co. now owns 378 shares of the e-commerce giant’s stock worth $72,000 after purchasing an additional 87 shares during the period. Archford Capital Strategies LLC boosted its holdings in Amazon.com by 13.9% in the first quarter. Archford Capital Strategies LLC now owns 50,897 shares of the e-commerce giant’s stock worth $9,684,000 after purchasing an additional 6,227 shares during the period. Edmp Inc. lifted its stake in Amazon.com by 4.0% in the first quarter. Edmp Inc. now owns 8,785 shares of the e-commerce giant’s stock valued at $1,671,000 after buying an additional 335 shares during the last quarter. Finally, Econ Financial Services Corp bought a new stake in Amazon.com in the first quarter valued at $1,480,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Down 1.4%

Shares of Amazon.com stock opened at $223.19 on Thursday. The business has a fifty day simple moving average of $212.21 and a two-hundred day simple moving average of $208.60. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.35, 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 current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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. The firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations 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 business earned $0.98 EPS. Research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction 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 transaction, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of the 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. Insiders have sold 13,602,037 shares of company stock worth $3,044,172,641 in the last 90 days. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMZN. The Goldman Sachs Group cut their price objective on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Wedbush reiterated an “outperform” rating and issued a $235.00 price target (up from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Evercore ISI cut their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Truist Financial boosted their price objective on Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Scotiabank cut their price objective 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. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.35.

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.