Ferguson Wellman Capital Management Inc. Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 25th, 2023

Ferguson Wellman Capital Management Inc. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 37.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,229 shares of the e-commerce giant’s stock after selling 116,944 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Amazon.com were worth $16,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. McElhenny Sheffield Capital Management LLC purchased a new stake in Amazon.com in the fourth quarter valued at approximately $27,000. Wells Financial Advisors INC grew its holdings in Amazon.com by 1,900.0% in the second quarter. Wells Financial Advisors INC now owns 280 shares of the e-commerce giant’s stock valued at $30,000 after purchasing an additional 266 shares during the period. Knott David M Jr purchased a new stake in Amazon.com in the second quarter valued at approximately $32,000. Laurel Wealth Planning LLC grew its holdings in Amazon.com by 1,900.0% in the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 304 shares during the period. Finally, Baron Financial Group LLC grew its holdings in Amazon.com by 1,900.0% in the second quarter. Baron Financial Group LLC now owns 360 shares of the e-commerce giant’s stock valued at $38,000 after purchasing an additional 342 shares during the period. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent analyst reports. MKM Partners lowered their target price on shares of Amazon.com from $145.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Credit Suisse Group lifted their price target on shares of Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Robert W. Baird lifted their price target on shares of Amazon.com from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Telsey Advisory Group reduced their price target on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 24th. Finally, Truist Financial reduced 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 report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.72.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 2,299 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $100.34, for a total transaction of $230,681.66. Following the completion of the transaction, the chief executive officer now owns 138,320 shares in the company, valued at $13,879,028.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $102.90, for a total value of $411,600.00. Following the completion of the sale, the chief executive officer now owns 529,435 shares of the company’s stock, valued at $54,478,861.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Selipsky sold 2,299 shares of the company’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $100.34, for a total transaction of $230,681.66. Following the completion of the sale, the chief executive officer now directly owns 138,320 shares of the company’s stock, valued at approximately $13,879,028.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,693 shares of company stock worth $7,225,308. Insiders own 12.70% of the company’s stock.

Amazon.com Stock Down 0.6 %

Amazon.com stock opened at $98.13 on Friday. The company has a 50-day simple moving average of $97.58 and a 200-day simple moving average of $100.72. The firm has a market capitalization of $1.01 trillion, a P/E ratio of -366.14, a P/E/G 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 one year low of $81.43 and a one year high of $170.83.

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

Amazon.com Company Profile

(Get Rating)

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.