Morningstar Investment Services LLC Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Morningstar Investment Services LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 59.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,222 shares of the e-commerce giant’s stock after selling 47,111 shares during the quarter. Amazon.com accounts for approximately 1.1% of Morningstar Investment Services LLC’s portfolio, making the stock its 18th biggest position. Morningstar Investment Services LLC’s holdings in Amazon.com were worth $6,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the 4th quarter worth about $25,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management acquired a new position in Amazon.com during the fourth quarter worth approximately $35,000. Cooksen Wealth LLC acquired a new position in Amazon.com during the first quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Amazon.com during the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,096,253 shares of company stock worth $5,673,745,409. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMZN has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $300.00 price target on shares of Amazon.com in a research report on Thursday. Piper Sandler lifted their price target on Amazon.com from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. JMP Securities reaffirmed a “market outperform” rating and set a $285.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Susquehanna lifted their price target on Amazon.com from $225.00 to $260.00 and gave the stock a “positive” rating in a research report on Friday, August 1st. Finally, Oppenheimer cut their price target on Amazon.com from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, August 1st. One investment 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. Based on data from MarketBeat, Amazon.com presently has an average rating of “Buy” and a consensus price target of $262.87.

Amazon.com Stock Up 0.0%

AMZN opened at $231.03 on Friday. The business’s fifty day moving average is $221.41 and its two-hundred day moving average is $208.44. 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 company has a market cap of $2.46 trillion, a price-to-earnings ratio of 35.22, a PEG ratio of 1.56 and a beta of 1.31. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. Analysts anticipate that Amazon.com, Inc. will post 6.31 EPS 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.