Carnegie Lake Advisors LLC Lowers Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Carnegie Lake Advisors LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 15,514 shares of the e-commerce giant’s stock after selling 1,050 shares during the period. Amazon.com comprises about 1.2% of Carnegie Lake Advisors LLC’s holdings, making the stock its 19th biggest holding. Carnegie Lake Advisors LLC’s holdings in Amazon.com were worth $2,952,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in AMZN. Western Wealth Management LLC increased its position in Amazon.com by 0.9% during the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant’s stock worth $26,660,000 after purchasing an additional 1,297 shares during the last quarter. Momentous Wealth Management Inc. purchased a new position in Amazon.com in the fourth quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Amazon.com in the first quarter worth approximately $514,000. Segall Bryant & Hamill LLC raised its holdings in Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock worth $69,572,000 after purchasing an additional 39,696 shares in the last quarter. Finally, Bearing Point Capital LLC acquired a new stake in Amazon.com during the fourth quarter worth approximately $12,014,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 0.0%

NASDAQ AMZN opened at $231.03 on Friday. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52. The company has a 50-day moving average of $221.41 and a 200-day moving average of $208.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The company has a market cap 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 (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 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 company had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. Corporate insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Amazon.com in a report on Thursday. Tigress Financial lifted their target price on shares of Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the company an “outperform” rating in a report on Tuesday, July 1st. Finally, BNP Paribas raised shares of Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $262.87.

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.