Institute for Wealth Management LLC. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 89,628 shares of the e-commerce giant’s stock after selling 1,162 shares during the quarter. Amazon.com accounts for 2.0% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 4th largest position. Institute for Wealth Management LLC.’s holdings in Amazon.com were worth $11,684,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Laurel Wealth Planning LLC increased its holdings in shares of Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock worth $34,000 after buying an additional 304 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in Amazon.com in the fourth quarter valued at $37,000. Swaine & Leidel Wealth Services LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $38,000. Atlantic Private Wealth LLC purchased a new position in shares of Amazon.com during the 1st quarter worth $43,000. Finally, Goodwin Investment Advisory increased its position in shares of Amazon.com by 1,225.8% during the 2nd quarter. Goodwin Investment Advisory now owns 411 shares of the e-commerce giant’s stock worth $44,000 after purchasing an additional 380 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
AMZN has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on shares of Amazon.com from $176.00 to $174.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. CICC Research initiated coverage on shares of Amazon.com in a research report on Sunday, July 9th. They set an “outperform” rating for the company. Canaccord Genuity Group boosted their target price on Amazon.com from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 4th. TD Cowen raised their price target on Amazon.com from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Tigress Financial lifted their price objective on Amazon.com from $192.00 to $204.00 in a research note on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and forty-nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.21.
Insider Transactions at Amazon.com
In other Amazon.com news, 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 value of $414,997.00. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $133.87, for a total value of $414,997.00. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $16,034,948.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $133.55, for a total transaction of $534,200.00. Following the transaction, the chief executive officer now directly owns 560,301 shares of the company’s stock, valued at $74,828,198.55. The disclosure for this sale can be found here. Insiders sold 1,408,645 shares of company stock worth $55,208,288 over the last 90 days. 12.70% of the stock is currently owned by insiders.
Amazon.com Trading Up 1.1 %
NASDAQ AMZN opened at $126.56 on Tuesday. The firm’s fifty day moving average is $133.13 and its two-hundred day moving average is $125.26. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $145.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.95. The firm has a market cap of $1.31 trillion, a PE ratio of 99.65, a P/E/G ratio of 1.90 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.29. The firm had revenue of $134.38 billion for the quarter, compared to analyst estimates of $131.54 billion. Amazon.com had a return on equity of 9.14% and a net margin of 2.43%. Analysts expect that Amazon.com, Inc. will post 2.23 earnings per share for the current year.
Amazon.com 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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