Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Kovack Advisors Inc.

Posted by Defense World Staff on Oct 15th, 2023

Kovack Advisors Inc. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 182,823 shares of the e-commerce giant’s stock after selling 188 shares during the quarter. Amazon.com accounts for 3.1% of Kovack Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Kovack Advisors Inc.’s holdings in Amazon.com were worth $23,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridgefront Capital LLC acquired a new position in Amazon.com during the first quarter worth $228,000. Krane Funds Advisors LLC raised its holdings in Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares during the last quarter. Range Financial Group LLC acquired a new position in Amazon.com during the first quarter worth $258,000. My Personal CFO LLC acquired a new position in Amazon.com during the first quarter worth $261,000. Finally, Worth Asset Management LLC acquired a new position in Amazon.com during the first quarter worth $191,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AMZN shares. Barclays boosted their price target on Amazon.com from $140.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Loop Capital boosted their price target on Amazon.com from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Jefferies Financial Group boosted their price target on Amazon.com from $135.00 to $150.00 in a report on Wednesday, June 21st. Credit Suisse Group boosted their price target on Amazon.com from $176.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, DA Davidson reissued a “buy” rating and issued a $150.00 price target on shares of Amazon.com in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a hold rating and forty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $161.94.

Get Our Latest Stock Report on AMZN

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $129.48, for a total transaction of $64,740.00. Following the sale, the chief executive officer now owns 149,780 shares in the company, valued at $19,393,514.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $133.55, for a total transaction of $534,200.00. Following the sale, the chief executive officer now owns 560,301 shares in the company, valued at $74,828,198.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $129.48, for a total value of $64,740.00. Following the sale, the chief executive officer now owns 149,780 shares in the company, valued at approximately $19,393,514.40. The disclosure for this sale can be found here. Insiders have sold 1,408,645 shares of company stock worth $55,207,763 over the last quarter. 12.70% of the stock is owned by corporate insiders.

Amazon.com Trading Down 1.9 %

NASDAQ:AMZN opened at $129.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $145.86. The business’s 50-day simple moving average is $134.44 and its 200 day simple moving average is $123.99. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 102.20, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24.

Amazon.com (NASDAQ:AMZN – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 EPS for the quarter, topping the consensus estimate of $0.34 by $0.29. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. The business had revenue of $134.38 billion for the quarter, compared to analysts’ expectations of $131.54 billion. As a group, sell-side analysts predict that Amazon.com, Inc. will post 2.23 earnings per share for the current fiscal year.

Amazon.com Company 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.