Beta Wealth Group Inc. Sells 12,845 Shares of Amazon.com, Inc. $AMZN

Beta Wealth Group Inc. reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 43.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,690 shares of the e-commerce giant’s stock after selling 12,845 shares during the quarter. Amazon.com accounts for about 1.3% of Beta Wealth Group Inc.’s holdings, making the stock its 26th biggest position. Beta Wealth Group Inc.’s holdings in Amazon.com were worth $3,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Carderock Capital Management Inc. bought a new position in shares of Amazon.com in the second quarter valued at approximately $27,000. Maryland Capital Advisors Inc. lifted its holdings in Amazon.com by 81.9% during the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 95 shares during the period. Ryan Investment Management Inc. bought a new stake in shares of Amazon.com during the 2nd quarter worth $48,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Amazon.com in the 1st quarter worth about $59,000. Finally, Access Investment Management LLC bought a new position in Amazon.com during the second quarter valued at about $74,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several research reports. Citigroup reaffirmed an “overweight” rating on shares of Amazon.com in a research report on Wednesday, November 26th. New Street Research raised their price target on shares of Amazon.com from $270.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Telsey Advisory Group lifted their price target on shares of Amazon.com from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. UBS Group set a $300.00 price objective on Amazon.com in a research note on Friday. Finally, Oppenheimer reissued an “outperform” rating and issued a $305.00 target price (up from $290.00) on shares of Amazon.com in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, fifty-seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.93.

Amazon.com Trading Up 0.2%

Shares of Amazon.com stock opened at $229.53 on Friday. The company’s 50-day moving average price is $228.58 and its 200-day moving average price is $223.95. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.58 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The business had revenue of $180.17 billion for the quarter, compared to analyst estimates of $177.53 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. Amazon.com’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jonathan Rubinstein sold 8,173 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $250.03, for a total transaction of $2,043,495.19. Following the completion of the transaction, the director directly owned 80,030 shares in the company, valued at $20,009,900.90. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $226.61, for a total value of $280,316.57. Following the completion of the transaction, the director owned 26,148 shares in the company, valued at $5,925,398.28. This represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 82,234 shares of company stock worth $19,076,767. 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.