SOL Capital Management CO Sells 310 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

SOL Capital Management CO trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,737 shares of the e-commerce giant’s stock after selling 310 shares during the quarter. SOL Capital Management CO’s holdings in Amazon.com were worth $5,848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors 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 about $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the 4th quarter valued at about $27,000. LSV Asset Management purchased a new stake in Amazon.com during the 4th quarter valued at about $35,000. Inlight Wealth Management LLC purchased a new stake in Amazon.com during the 1st quarter valued at about $40,000. Finally, Perritt Capital Management Inc boosted its holdings in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after acquiring an additional 80 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the transaction, the chief executive officer directly owned 514,550 shares of the company’s stock, valued at approximately $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 733,195 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $227.02, for a total transaction of $166,449,928.90. Following the transaction, the insider directly owned 894,546,706 shares in the company, valued at $203,079,993,196.12. The trade was a 0.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,335,232 shares of company stock valued at $3,210,622,570. 9.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Evercore ISI dropped their price objective on Amazon.com from $270.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Oppenheimer raised their target price on Amazon.com from $215.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Telsey Advisory Group restated an “outperform” rating and issued a $235.00 target price on shares of Amazon.com in a research note on Thursday, July 10th. Scotiabank reduced their price objective on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Finally, Bank of America lifted their target price on Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Three 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. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $250.35.

Amazon.com Trading Up 0.3%

AMZN opened at $223.88 on Friday. The company’s 50 day simple moving average is $212.84 and its two-hundred day simple moving average is $208.62. The firm has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.67 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, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

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, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.