High Note Wealth LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 44.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,384 shares of the e-commerce giant’s stock after selling 31,844 shares during the period. Amazon.com comprises approximately 1.4% of High Note Wealth LLC’s holdings, making the stock its 23rd largest position. High Note Wealth LLC’s holdings in Amazon.com were worth $3,308,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMZN. Bridgefront Capital LLC bought a new stake in Amazon.com in the first quarter worth approximately $228,000. Krane Funds Advisors LLC grew its position in Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after acquiring an additional 55 shares in the last quarter. Range Financial Group LLC bought a new stake in shares of Amazon.com during the 1st quarter worth $258,000. My Personal CFO LLC bought a new stake in shares of Amazon.com during the 1st quarter worth $261,000. Finally, Worth Asset Management LLC bought a new stake in shares of Amazon.com during the 1st quarter worth $191,000. 57.64% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO Andrew R. Jassy sold 23,874 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 15th. The shares were 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 directly owns 1,964,506 shares in the company, valued at $194,780,769.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Shelley Reynolds sold 3,500 shares of the firm’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 completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $11,368,319.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 23,874 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $99.15, for a total transaction of $2,367,107.10. Following the completion of the transaction, the chief executive officer now directly owns 1,964,506 shares of the company’s stock, valued at $194,780,769.90. The disclosure for this sale can be found here. Insiders have sold 77,693 shares of company stock worth $7,634,308 over the last ninety days. Insiders own 12.70% of the company’s stock.
Amazon.com Stock Performance
Amazon.com (NASDAQ:AMZN – Get Rating) last announced its 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). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. During the same quarter last year, the business posted $1.39 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Amazon.com, Inc. will post 1.33 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
AMZN has been the subject of several recent analyst reports. New Street Research initiated coverage on shares of Amazon.com in a report on Wednesday, January 4th. They set a “buy” rating and a $130.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Amazon.com from $155.00 to $145.00 in a research note on Friday, February 3rd. Wolfe Research upped their target price on shares of Amazon.com from $115.00 to $130.00 in a research note on Friday, February 3rd. MKM Partners cut their target price on shares of Amazon.com from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Finally, The Goldman Sachs Group cut their target price on shares of Amazon.com from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.82.
Amazon.com Company Profile
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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