TCP Asset Management LLC Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

TCP Asset Management LLC trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,635 shares of the e-commerce giant’s stock after selling 433 shares during the quarter. TCP Asset Management LLC’s holdings in Amazon.com were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Svenska Handelsbanken AB publ purchased a new stake in shares of Amazon.com during the first quarter worth about $25,183,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Amazon.com by 4.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,431,572 shares of the e-commerce giant’s stock valued at $272,371,000 after purchasing an additional 66,050 shares during the last quarter. GCQ FUNDS MANAGEMENT PTY Ltd boosted its stake in Amazon.com by 42.8% in the 1st quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 316,622 shares of the e-commerce giant’s stock worth $60,241,000 after purchasing an additional 94,890 shares in the last quarter. Lansing Street Advisors grew its position in Amazon.com by 24.4% during the 1st quarter. Lansing Street Advisors now owns 4,220 shares of the e-commerce giant’s stock worth $803,000 after purchasing an additional 827 shares during the last quarter. Finally, Von Berge Wealth Management Group LLC grew its position in Amazon.com by 2.2% during the 1st quarter. Von Berge Wealth Management Group LLC now owns 2,739 shares of the e-commerce giant’s stock worth $511,000 after purchasing an additional 60 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Roth Capital set a $250.00 price objective on shares of Amazon.com and gave the company a “buy” rating in a report on Tuesday, July 8th. Needham & Company LLC boosted their price target on Amazon.com from $220.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Amazon.com from $201.00 to $238.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, July 10th. Finally, HSBC increased their price target on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. 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. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $254.33.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 25,102,037 shares of company stock worth $5,674,871,223. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $231.44 on Friday. The firm has a market capitalization of $2.46 trillion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 1.72 and a beta of 1.33. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The stock’s 50 day moving average price is $215.66 and its 200 day moving average price is $208.82. 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 (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS 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.