BIP Wealth LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

BIP Wealth LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,361 shares of the e-commerce giant’s stock after selling 512 shares during the quarter. BIP Wealth LLC’s holdings in Amazon.com were worth $3,493,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Schrum Private Wealth Management LLC boosted its holdings in shares of Amazon.com by 19.5% in the 1st quarter. Schrum Private Wealth Management LLC now owns 2,014 shares of the e-commerce giant’s stock worth $383,000 after purchasing an additional 328 shares during the period. Bridgewater Advisors Inc. boosted its holdings in shares of Amazon.com by 2.1% in the 1st quarter. Bridgewater Advisors Inc. now owns 66,913 shares of the e-commerce giant’s stock worth $12,539,000 after purchasing an additional 1,356 shares during the period. Tectonic Advisors LLC boosted its holdings in shares of Amazon.com by 9.3% in the 1st quarter. Tectonic Advisors LLC now owns 17,377 shares of the e-commerce giant’s stock worth $3,306,000 after purchasing an additional 1,480 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Amazon.com by 1.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 261,171 shares of the e-commerce giant’s stock worth $49,690,000 after purchasing an additional 2,499 shares during the period. Finally, Grange Capital LLC boosted its holdings in shares of Amazon.com by 4.3% in the 1st quarter. Grange Capital LLC now owns 4,945 shares of the e-commerce giant’s stock worth $941,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,096,253 shares of company stock worth $5,673,745,409 in the last three months. 9.70% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Amazon.com stock opened at $224.66 on Thursday. The company’s fifty day moving average price is $220.60 and its 200 day moving average price is $208.72. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The stock has a market capitalization of $2.40 trillion, a P/E ratio of 34.25, a P/E/G ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results 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. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of Amazon.com in a report on Friday, August 1st. BMO Capital Markets lifted their target price on Amazon.com from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. HSBC lifted their target price on Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, August 1st. Finally, Jefferies Financial Group raised their price target on Amazon.com from $255.00 to $265.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and a consensus price target of $262.45.

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.