Atlantic Union Bankshares Corp Lowers Holdings in Amazon.com, Inc. $AMZN

Atlantic Union Bankshares Corp lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,169 shares of the e-commerce giant’s stock after selling 4,065 shares during the period. Amazon.com accounts for about 1.3% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 15th biggest holding. Atlantic Union Bankshares Corp’s holdings in Amazon.com were worth $20,770,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in AMZN. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com during the fourth quarter worth approximately $25,000. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $35,000. Cooksen Wealth LLC acquired a new stake in Amazon.com during the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Amazon.com during the 1st quarter worth approximately $40,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMZN. Telsey Advisory Group restated an “outperform” rating and issued a $265.00 price target on shares of Amazon.com in a report on Wednesday, August 13th. UBS Group restated a “buy” rating and set a $271.00 target price (up from $249.00) on shares of Amazon.com in a research note on Monday, July 28th. Wedbush lifted their price target on Amazon.com from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. HSBC lifted their target price on Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada boosted their target price on Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $262.87.

Amazon.com Stock Up 0.0%

Shares of AMZN opened at $231.03 on Monday. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The company has a market capitalization of $2.46 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The stock has a fifty day simple moving average of $221.41 and a two-hundred day simple moving average of $208.26. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN) last announced its earnings results 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. The company had revenue of $167.70 billion during 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%. Amazon.com’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. As a group, equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’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 value of $542,500.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409. 10.80% of the stock is owned by company insiders.

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.