Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Lowered by Peak Financial Advisors LLC

Posted by on Mar 23rd, 2023

Peak Financial Advisors LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 28.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,347 shares of the e-commerce giant’s stock after selling 6,120 shares during the quarter. Peak Financial Advisors LLC’s holdings in Amazon.com were worth $1,289,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in AMZN. State Street Corp increased its stake in Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after buying an additional 310,134,486 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after buying an additional 295,880,050 shares during the period. FMR LLC increased its stake in Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after buying an additional 270,931,640 shares during the period. Northern Trust Corp increased its stake in Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after buying an additional 90,167,792 shares during the period. Finally, Legal & General Group Plc increased its stake in Amazon.com by 1,944.4% in the 2nd quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock valued at $6,370,223,000 after buying an additional 57,043,701 shares during the period. Institutional investors and hedge funds own 57.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMZN shares. New Street Research started coverage on shares of Amazon.com in a research note on Wednesday, January 4th. They set a “buy” rating and a $130.00 price target on the stock. Wolfe Research increased their price target on shares of Amazon.com from $115.00 to $130.00 in a research note on Friday, February 3rd. Cowen increased their price target on shares of Amazon.com from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Truist Financial dropped their price target on shares of Amazon.com from $160.00 to $142.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Finally, Robert W. Baird increased their price target on shares of Amazon.com from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.72.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total value of $568,293.00. Following the transaction, the chief executive officer now owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Shelley Reynolds sold 3,500 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total value of $332,185.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 5,100 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total transaction of $568,293.00. Following the completion of the sale, the chief executive officer now directly owns 124,180 shares in the company, valued at approximately $13,837,377.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,394 shares of company stock valued at $6,994,626. 12.70% of the stock is currently owned by corporate insiders.

Amazon.com Stock Down 1.9 %

Amazon.com stock opened at $98.70 on Thursday. The company’s 50 day simple moving average is $97.51 and its 200 day simple moving average is $100.94. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. The firm has a market capitalization of $1.01 trillion, a price-to-earnings ratio of -368.27, a PEG ratio of 4.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.72.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The firm had revenue of $149.20 billion for the quarter, compared to the consensus estimate of $145.72 billion. During the same period in the previous year, the business earned $1.39 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 1.33 EPS for the current year.

About Amazon.com

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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