Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Austin Asset Management Co Inc

Austin Asset Management Co Inc cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,118 shares of the e-commerce giant’s stock after selling 384 shares during the period. Amazon.com makes up 0.3% of Austin Asset Management Co Inc’s investment portfolio, making the stock its 27th largest position. Austin Asset Management Co Inc’s holdings in Amazon.com were worth $1,545,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AMZN. Balefire LLC lifted its position in Amazon.com by 63.2% during the first quarter. Balefire LLC now owns 15,167 shares of the e-commerce giant’s stock valued at $2,886,000 after buying an additional 5,876 shares in the last quarter. Western Financial Corp CA lifted its position in Amazon.com by 5.0% during the first quarter. Western Financial Corp CA now owns 2,923 shares of the e-commerce giant’s stock valued at $556,000 after buying an additional 139 shares in the last quarter. KPP Advisory Services LLC lifted its position in Amazon.com by 22.2% during the first quarter. KPP Advisory Services LLC now owns 46,738 shares of the e-commerce giant’s stock valued at $8,892,000 after buying an additional 8,493 shares in the last quarter. Goldstein Advisors LLC lifted its position in Amazon.com by 19.0% during the first quarter. Goldstein Advisors LLC now owns 11,957 shares of the e-commerce giant’s stock valued at $2,275,000 after buying an additional 1,909 shares in the last quarter. Finally, Oak Hill Wealth Advisors LLC lifted its position in Amazon.com by 2.6% during the first quarter. Oak Hill Wealth Advisors LLC now owns 43,899 shares of the e-commerce giant’s stock valued at $8,352,000 after buying an additional 1,100 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. JMP Securities lifted their price target on shares of Amazon.com from $250.00 to $285.00 and gave the company a “market outperform” rating in a research report on Thursday, July 10th. BNP Paribas Exane upgraded shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price objective on the stock in a research note on Friday, June 27th. The Goldman Sachs Group dropped 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. Wells Fargo & Company lifted their price objective on shares of Amazon.com from $201.00 to $238.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a research note on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $250.35.

Insider Activity

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 733,195 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total transaction of $166,449,928.90. Following the completion of the sale, the insider directly owned 894,546,706 shares of the company’s stock, 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. Insiders sold 14,335,232 shares of company stock valued at $3,210,622,570 in the last ninety days. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $226.13 on Friday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market cap of $2.40 trillion, a price-to-earnings ratio of 36.83, 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 quick ratio of 0.84 and a current ratio of 1.05. The firm has a fifty day moving average of $213.50 and a 200-day moving average of $208.67.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company 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.