Allegiance Financial Group Advisory Services LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Allegiance Financial Group Advisory Services LLC trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,851 shares of the e-commerce giant’s stock after selling 818 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in Amazon.com were worth $733,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMZN. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the 4th quarter valued at $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the 4th quarter valued at $35,000. Perritt Capital Management Inc boosted its holdings 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 valued at $42,000 after purchasing an additional 80 shares during the last quarter. Cooksen Wealth LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm’s stock in a transaction that occurred 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 directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the transaction, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,096,253 shares of company stock valued at $5,673,745,409. Company insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMZN. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. Wedbush raised their target price on shares of Amazon.com from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Jefferies Financial Group raised their target price on shares of Amazon.com from $255.00 to $265.00 in a research note on Wednesday, July 16th. Cantor Fitzgerald raised their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Oppenheimer cut their target price on shares of Amazon.com from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $262.87.

Amazon.com Price Performance

NASDAQ AMZN opened at $231.03 on Friday. The stock has a market capitalization of $2.46 trillion, a P/E ratio of 35.22, a P/E/G ratio of 1.56 and a beta of 1.31. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The business’s fifty day moving average is $221.41 and its two-hundred day moving average is $208.64. 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 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 return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.