Port Capital LLC Sells 1,117 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Jun 15th, 2023

Port Capital LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,982 shares of the e-commerce giant’s stock after selling 1,117 shares during the period. Port Capital LLC’s holdings in Amazon.com were worth $418,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Meridian Investment Counsel Inc. raised its position in Amazon.com by 3.4% in the first quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after acquiring an additional 5 shares during the period. Alterna Wealth Management Inc. raised its position in Amazon.com by 1.8% in the first quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock worth $942,000 after acquiring an additional 5 shares during the period. Fiduciary Planning LLC raised its position in Amazon.com by 1.5% in the first quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock worth $1,138,000 after acquiring an additional 5 shares during the period. HBC Financial Services PLLC raised its position in Amazon.com by 0.8% in the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock worth $1,717,000 after acquiring an additional 5 shares during the period. Finally, Archetype Wealth Partners raised its position in Amazon.com by 3.7% in the first quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock worth $552,000 after acquiring an additional 6 shares during the period. 57.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several recent analyst reports. Sanford C. Bernstein raised their price objective on shares of Amazon.com from $125.00 to $140.00 in a research report on Wednesday, May 31st. JMP Securities restated a “market outperform” rating and set a $140.00 price objective on shares of Amazon.com in a research report on Wednesday, April 19th. Wolfe Research raised their price objective on shares of Amazon.com from $130.00 to $140.00 in a research report on Friday, April 28th. Piper Jaffray Companies raised their price objective on shares of Amazon.com from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, June 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Amazon.com from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, April 18th. Three equities research analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.28.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $102.25, for a total value of $409,000.00. Following the transaction, the chief executive officer now owns 556,298 shares of the company’s stock, valued at approximately $56,881,470.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $115.60, for a total transaction of $358,360.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $13,846,568. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $102.25, for a total transaction of $409,000.00. Following the sale, the chief executive officer now directly owns 556,298 shares in the company, valued at approximately $56,881,470.50. The disclosure for this sale can be found here. Insiders have sold a total of 75,644 shares of company stock valued at $8,576,262 in the last 90 days. Insiders own 12.70% of the company’s stock.

Amazon.com Trading Down 0.2 %

NASDAQ:AMZN opened at $126.42 on Thursday. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $146.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.69 and a current ratio of 0.92. The firm has a market cap of $1.30 trillion, a P/E ratio of 301.00, a P/E/G ratio of 2.40 and a beta of 1.26. The firm has a 50-day simple moving average of $111.77 and a 200-day simple moving average of $100.56.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a net margin of 0.82% and a return on equity of 5.85%. The firm had revenue of $127.36 billion for the quarter, compared to the consensus estimate of $124.57 billion. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 1.56 EPS for the current fiscal 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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