Weatherly Asset Management L. P. Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Weatherly Asset Management L. P. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 232,837 shares of the e-commerce giant’s stock after selling 2,025 shares during the period. Amazon.com makes up approximately 4.0% of Weatherly Asset Management L. P.’s holdings, making the stock its 3rd biggest position. Weatherly Asset Management L. P.’s holdings in Amazon.com were worth $44,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prudent Man Investment Management Inc. bought a new position in shares of Amazon.com in the 4th quarter worth approximately $27,000. LSV Asset Management bought a new position in shares of Amazon.com in the 4th quarter worth approximately $35,000. Perritt Capital Management Inc lifted its stake in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the period. Cooksen Wealth LLC bought a new position in shares of Amazon.com in the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Amazon.com in the 1st quarter worth approximately $40,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of several recent research reports. Roth Capital set a $250.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Piper Sandler increased their price objective on shares of Amazon.com from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wedbush raised their target price on shares of Amazon.com from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Amazon.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Evercore ISI decreased their target price on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $262.45.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer directly owned 512,050 shares of the company’s stock, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,101,037 shares of company stock valued at $5,674,726,368. 9.70% of the stock is owned by insiders.

Amazon.com Trading Down 0.2%

NASDAQ AMZN opened at $222.69 on Monday. The company’s 50-day moving average price is $219.65 and its 200-day moving average price is $208.61. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.37 trillion, a PE ratio of 33.95, a PEG ratio of 1.50 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.