Opulen Financial Group LLC Has $4.68 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Opulen Financial Group LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,604 shares of the e-commerce giant’s stock after selling 969 shares during the quarter. Amazon.com accounts for 4.3% of Opulen Financial Group LLC’s portfolio, making the stock its 4th largest holding. Opulen Financial Group LLC’s holdings in Amazon.com were worth $4,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Castlekeep Investment Advisors LLC acquired a new position in shares of Amazon.com in the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new position in Amazon.com during the 4th quarter worth approximately $35,000. Cooksen Wealth LLC purchased a new position in Amazon.com during the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Amazon.com during the 1st quarter worth approximately $40,000. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup reaffirmed an “overweight” rating on shares of Amazon.com in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. Rosenblatt Securities raised their price target on shares of Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of Amazon.com in a research note on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $262.87.

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 completion of the sale, the insider owned 883,779,901 shares of the company’s stock, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $542,500.00. Following 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. Insiders have sold a total of 25,096,253 shares of company stock valued at $5,673,745,409 in the last ninety days. Company insiders own 9.70% of the company’s stock.

Amazon.com Stock Up 2.9%

NASDAQ AMZN opened at $230.98 on Friday. The stock has a fifty day moving average of $221.06 and a 200-day moving average of $208.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The stock has a market capitalization of $2.46 trillion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52.

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

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.