Wealth Effects LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Wealth Effects LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,831 shares of the e-commerce giant’s stock after selling 1,666 shares during the period. Amazon.com makes up about 4.7% of Wealth Effects LLC’s investment portfolio, making the stock its 4th biggest position. Wealth Effects LLC’s holdings in Amazon.com were worth $11,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Momentous Wealth Management Inc. bought a new position in Amazon.com during the fourth quarter worth about $749,000. Segall Bryant & Hamill LLC increased its stake in Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after purchasing an additional 39,696 shares in the last quarter. Bearing Point Capital LLC bought a new stake in shares of Amazon.com in the 4th quarter worth $12,014,000. Evergreen Capital Management LLC lifted its holdings in Amazon.com by 0.5% during the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Amazon.com by 173.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock worth $759,434,000 after buying an additional 2,196,353 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 733,195 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 894,546,706 shares in the company, valued at $203,079,993,196.12. This represents a 0.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’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 sale, the chief executive officer owned 514,550 shares of the company’s stock, valued at $113,231,873. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,335,232 shares of company stock valued at $3,210,622,570 in the last ninety days. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Amazon.com from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Citigroup reiterated a “market outperform” rating on shares of Amazon.com in a research note on Thursday, July 10th. UBS Group restated a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. Evercore ISI dropped their price target on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Scotiabank lowered their price target on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.35.

Amazon.com Stock Up 0.3%

AMZN stock opened at $223.88 on Friday. The business’s 50 day moving average price is $212.84 and its two-hundred day moving average price is $208.62. 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, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company 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.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.