Legacy Financial Group LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,901 shares of the e-commerce giant’s stock after selling 321 shares during the period. Legacy Financial Group LLC’s holdings in Amazon.com were worth $1,942,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AMZN. Laurel Wealth Planning LLC raised its position in Amazon.com by 1,900.0% during 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 in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Amazon.com during the fourth quarter valued at about $37,000. Swaine & Leidel Wealth Services LLC bought a new position in shares of Amazon.com during the first quarter valued at about $38,000. Atlantic Private Wealth LLC bought a new position in shares of Amazon.com during the first quarter valued at about $43,000. Finally, Goodwin Investment Advisory grew its stake in shares of Amazon.com by 1,225.8% during the second quarter. Goodwin Investment Advisory now owns 411 shares of the e-commerce giant’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on AMZN shares. Wolfe Research raised their price objective on Amazon.com from $140.00 to $150.00 in a research note on Monday, July 10th. Credit Suisse Group raised their target price on Amazon.com from $176.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Truist Financial cut their target price on Amazon.com from $176.00 to $174.00 and set a “buy” rating on the stock in a research note on Tuesday. BNP Paribas raised Amazon.com from an “underperform” rating to a “neutral” rating and set a $140.00 target price on the stock in a research note on Friday, August 4th. Finally, CICC Research assumed coverage on Amazon.com in a research note on Sunday, July 9th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and forty-nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.26.
Amazon.com Price Performance
Shares of AMZN opened at $128.13 on Thursday. The firm has a market cap of $1.32 trillion, a PE ratio of 100.89, a P/E/G ratio of 2.01 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $133.88 and a two-hundred day simple moving average of $124.59. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $145.86.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its earnings results on Thursday, August 3rd. The e-commerce giant reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.29. Amazon.com had a net margin of 2.43% and a return on equity of 9.14%. The business had revenue of $134.38 billion during the quarter, compared to analyst estimates of $131.54 billion. On average, equities analysts anticipate that Amazon.com, Inc. will post 2.23 EPS for the current year.
Insider Activity
In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $129.48, for a total transaction of $64,740.00. Following the completion of the sale, the chief executive officer now owns 149,780 shares of the company’s stock, valued at approximately $19,393,514.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $129.48, for a total transaction of $64,740.00. Following the completion of the sale, the chief executive officer now owns 149,780 shares of the company’s stock, valued at approximately $19,393,514.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $133.87, for a total transaction of $414,997.00. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The disclosure for this sale can be found here. Insiders sold a total of 1,408,645 shares of company stock valued at $55,207,763 in the last 90 days. Company insiders own 12.70% of the company’s stock.
Amazon.com Company Profile
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.
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