Firestone Capital Management Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Firestone Capital Management reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 30.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,328 shares of the e-commerce giant’s stock after selling 3,230 shares during the period. Firestone Capital Management’s holdings in Amazon.com were worth $1,394,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $25,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $35,000. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the 1st quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Amazon.com in the 1st quarter valued at approximately $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Down 0.6%

AMZN opened at $221.30 on Tuesday. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.31. The firm’s 50 day moving average is $219.94 and its 200-day moving average is $208.52. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMZN. Wells Fargo & Company upped their target price on shares of Amazon.com from $238.00 to $245.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Raymond James Financial restated an “outperform” rating and issued a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the company an “outperform” rating in a report on Tuesday, July 1st. Scotiabank upped their target price on shares of Amazon.com from $250.00 to $275.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. Finally, Rosenblatt Securities upped their target price on shares of Amazon.com from $288.00 to $297.00 and gave the company a “buy” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has an average rating of “Buy” and an average target price of $262.45.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,101,037 shares of company stock worth $5,674,726,368 in the last quarter. Insiders own 10.80% of the company’s stock.

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.