Platte River Wealth Advisors LLC Sells 5,058 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 25th, 2023

Platte River Wealth Advisors LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 14.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,198 shares of the e-commerce giant’s stock after selling 5,058 shares during the quarter. Amazon.com comprises about 1.1% of Platte River Wealth Advisors LLC’s portfolio, making the stock its 26th biggest holding. Platte River Wealth Advisors LLC’s holdings in Amazon.com were worth $2,537,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMZN. Dohj LLC lifted its position in shares of Amazon.com by 1.8% during the 3rd quarter. Dohj LLC now owns 24,839 shares of the e-commerce giant’s stock valued at $2,807,000 after acquiring an additional 451 shares during the period. Bassett Hargrove Investment Counsel LLC bought a new stake in shares of Amazon.com during the 3rd quarter valued at $2,120,000. Obermeyer Wood Investment Counsel Lllp lifted its position in shares of Amazon.com by 1.2% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 313,317 shares of the e-commerce giant’s stock valued at $35,405,000 after acquiring an additional 3,840 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Amazon.com by 0.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,185,666 shares of the e-commerce giant’s stock valued at $472,980,000 after acquiring an additional 32,781 shares during the period. Finally, West Coast Financial LLC bought a new stake in shares of Amazon.com during the 3rd quarter worth $210,000. 57.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMZN. JPMorgan Chase & Co. dropped their price objective on Amazon.com from $142.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, March 16th. Credit Suisse Group upped their target price on Amazon.com from $142.00 to $171.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. DA Davidson upped their target price on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Morgan Stanley upped their target price on Amazon.com from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Amazon.com in a report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.72.

Insider Activity

In other news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was 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 in the company, valued at $13,837,377.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was 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 in the company, valued at $13,837,377.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 23,874 shares of Amazon.com stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $99.15, for a total value of $2,367,107.10. Following the sale, the chief executive officer now owns 1,964,506 shares in the company, valued at $194,780,769.90. The disclosure for this sale can be found here. Insiders have sold 73,693 shares of company stock worth $7,225,308 over the last 90 days. 12.70% of the stock is currently owned by corporate insiders.

Amazon.com Stock Down 0.6 %

Shares of NASDAQ:AMZN opened at $98.13 on Friday. The business’s 50 day simple moving average is $97.58 and its two-hundred day simple moving average is $100.72. The firm has a market cap of $1.01 trillion, a P/E ratio of -366.14, a PEG ratio of 4.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $170.83.

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

Amazon.com Company Profile

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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.