Washburn Capital Management Inc. Sells 775 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Washburn Capital Management Inc. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,714 shares of the e-commerce giant’s stock after selling 775 shares during the quarter. Amazon.com comprises approximately 1.7% of Washburn Capital Management Inc.’s holdings, making the stock its 11th biggest position. Washburn Capital Management Inc.’s holdings in Amazon.com were worth $2,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Northern Capital Management Inc. lifted its holdings in Amazon.com by 0.6% during the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock valued at $1,613,000 after purchasing an additional 45 shares during the last quarter. Talisman Wealth Advisors LLC lifted its holdings in Amazon.com by 1.2% during the 4th quarter. Talisman Wealth Advisors LLC now owns 4,647 shares of the e-commerce giant’s stock valued at $1,020,000 after purchasing an additional 53 shares during the last quarter. SWAN Capital LLC lifted its holdings in Amazon.com by 3.1% during the 4th quarter. SWAN Capital LLC now owns 1,804 shares of the e-commerce giant’s stock valued at $396,000 after purchasing an additional 55 shares during the last quarter. Lokken Investment Group LLC lifted its holdings in Amazon.com by 1.5% during the 4th quarter. Lokken Investment Group LLC now owns 3,866 shares of the e-commerce giant’s stock valued at $848,000 after purchasing an additional 56 shares during the last quarter. Finally, CWC Advisors LLC. lifted its holdings in Amazon.com by 3.1% during the 4th quarter. CWC Advisors LLC. now owns 1,872 shares of the e-commerce giant’s stock valued at $411,000 after purchasing an additional 56 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $231.03 on Friday. The stock has a market cap of $2.46 trillion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average is $221.41 and its 200-day moving average is $208.64. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 earnings per share. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMZN shares. Monness Crespi & Hardt raised their price target on Amazon.com from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 1st. Cantor Fitzgerald lifted their target price on Amazon.com from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of Amazon.com in a report on Friday, August 1st. Wells Fargo & Company lifted their target price on Amazon.com from $238.00 to $245.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Finally, Cowen reissued a “buy” rating on shares of Amazon.com in a report on Friday, August 1st. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $262.87.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction dated 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. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. Company insiders own 9.70% 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.