Ellenbecker Investment Group Sells 900 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Jul 7th, 2023

Ellenbecker Investment Group trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,483 shares of the e-commerce giant’s stock after selling 900 shares during the period. Ellenbecker Investment Group’s holdings in Amazon.com were worth $772,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMZN. Kavar Capital Partners Group LLC raised its position in shares of Amazon.com by 7.6% in the 1st quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after acquiring an additional 79 shares in the last quarter. IFM Investors Pty Ltd increased its position in Amazon.com by 21.8% during the 1st quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock valued at $237,686,000 after buying an additional 13,060 shares in the last quarter. Ironwood Wealth Management LLC. increased its position in Amazon.com by 0.8% during the 1st quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock valued at $5,901,000 after buying an additional 15 shares in the last quarter. Markel Corp increased its position in Amazon.com by 0.6% during the 1st quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock valued at $322,956,000 after buying an additional 550 shares in the last quarter. Finally, Leelyn Smith LLC increased its position in Amazon.com by 24.8% during the 1st quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock valued at $8,870,000 after buying an additional 540 shares in the last quarter. 56.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several recent analyst reports. Credit Suisse Group reduced their target price on Amazon.com from $150.00 to $140.00 in a research report on Tuesday, April 25th. Robert W. Baird upped their target price on Amazon.com from $125.00 to $130.00 in a research report on Friday, April 28th. Piper Jaffray Companies upped their target price on Amazon.com from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, June 7th. Piper Sandler boosted their price target on Amazon.com from $130.00 to $150.00 in a research note on Wednesday, June 7th. Finally, Bank of America boosted their price target on Amazon.com from $139.00 to $154.00 in a research note on Monday, June 12th. Three equities research analysts have rated the stock with a hold rating and forty have assigned a buy rating to the stock. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $144.23.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $13,846,568. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Adam Selipsky sold 520 shares of the stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $103.77, for a total value of $53,960.40. Following the completion of the transaction, the chief executive officer now directly owns 136,780 shares in the company, valued at $14,193,660.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $13,846,568. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,345 shares of company stock valued at $8,472,000. 12.30% of the stock is currently owned by insiders.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $128.36 on Friday. The business has a 50 day simple moving average of $119.74 and a two-hundred day simple moving average of $104.59. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $146.57. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 305.62, a PEG ratio of 2.53 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.69.

Amazon.com (NASDAQ:AMZN – Free Report) last announced its earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The business had revenue of $127.36 billion during the quarter, compared to analysts’ expectations of $124.57 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that Amazon.com, Inc. will post 1.56 EPS for the current fiscal year.

Amazon.com Profile

(Free Report)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.

Recommended Stories

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

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.