Coastwise Capital Group LLC Lowers Stake in Amazon.com, Inc. $AMZN

Coastwise Capital Group LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,020 shares of the e-commerce giant’s stock after selling 1,390 shares during the period. Amazon.com comprises approximately 3.8% of Coastwise Capital Group LLC’s holdings, making the stock its 4th largest position. Coastwise Capital Group LLC’s holdings in Amazon.com were worth $4,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Western Wealth Management LLC increased its stake in shares of Amazon.com by 0.9% in the 1st 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 in the last quarter. Momentous Wealth Management Inc. purchased a new stake in shares of Amazon.com in the 4th quarter worth $749,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Amazon.com in the 1st quarter worth $514,000. Segall Bryant & Hamill LLC increased its stake in shares of Amazon.com by 14.3% in the 4th 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 purchased a new stake in shares of Amazon.com in the 4th quarter worth $12,014,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of AMZN stock opened at $231.03 on Monday. The firm 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. The company’s 50 day moving average is $221.41 and its 200 day moving average is $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, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. Amazon.com’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on 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 owned 512,050 shares of the company’s stock, valued at $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 90 days, insiders sold 25,096,253 shares of company stock valued at $5,673,745,409. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price objective on Amazon.com from $220.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of Amazon.com in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Bank of America upped their target price on shares of Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada upped their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $262.87.

Amazon.com Company 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.