Independent Wealth Network Inc. Has $2.45 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Independent Wealth Network Inc. trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,864 shares of the e-commerce giant’s stock after selling 601 shares during the quarter. Amazon.com accounts for 1.0% of Independent Wealth Network Inc.’s portfolio, making the stock its 23rd largest position. Independent Wealth Network Inc.’s holdings in Amazon.com were worth $2,448,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMZN. Castlekeep Investment Advisors LLC acquired a new position in Amazon.com during the fourth quarter worth $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com during the fourth quarter worth $27,000. LSV Asset Management acquired a new position in Amazon.com during the fourth quarter worth $35,000. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the first quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com in the first quarter valued at $40,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMZN shares. Monness Crespi & Hardt raised their target price on Amazon.com from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 1st. BNP Paribas upgraded Amazon.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft raised their target price on Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 target price on shares of Amazon.com in a research note on Friday, August 1st. Finally, UBS Group reiterated a “buy” rating and issued a $271.00 price objective (up from $249.00) on shares of Amazon.com in a research report on Monday, July 28th. One equities research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $262.87.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 25,096,253 shares of company stock worth $5,673,745,409. 9.70% of the stock is owned by insiders.

Amazon.com Stock Up 0.0%

Shares of Amazon.com stock opened at $231.03 on Friday. The business’s 50 day simple moving average is $221.41 and its 200 day simple moving average is $208.64. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The firm has a market cap of $2.46 trillion, a PE ratio of 35.22, a P/E/G ratio of 1.56 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 announced 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 business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same quarter last year, the firm earned $1.26 EPS. Amazon.com’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.