Amazon.com, Inc. $AMZN Shares Sold by Del Sette Capital Management LLC

Key Points

• Del Sette Capital Management cut its Amazon stake by 64.5% in the first quarter, selling 9,786 shares and leaving it with 5,384 shares worth about $1.12 million.
• Amazon executives also sold stock recently: CEO Andrew J. Jassy sold 20,000 shares in May and Douglas J. Herrington sold 1,000 shares in July, with insiders selling 140,425 shares over the last three months.
• Amazon posted strong quarterly results, beating earnings and revenue expectations on April 29, and analysts remain broadly bullish with a consensus rating of “Moderate Buy” and an average price target of $312.91.

Del Sette Capital Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 64.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,384 shares of the e-commerce giant's stock after selling 9,786 shares during the quarter. Amazon.com makes up about 0.7% of Del Sette Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Del Sette Capital Management LLC's holdings in Amazon.com were worth $1,121,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AMZN. Vanguard Group Inc. boosted its stake in Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after acquiring an additional 8,913,959 shares during the period. State Street Corp grew its stake in Amazon.com by 1.8% during the 4th quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock worth $89,708,913,000 after buying an additional 6,971,680 shares during the last quarter. Geode Capital Management LLC lifted its stake in Amazon.com by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock valued at $51,753,622,000 after buying an additional 2,479,324 shares during the last quarter. Norges Bank acquired a new position in shares of Amazon.com during the fourth quarter valued at $32,868,735,000. Finally, Auto Owners Insurance Co grew its position in shares of Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after acquiring an additional 98,090,585 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,000 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the completion of the sale, the chief executive officer directly owned 2,205,766 shares of the company's stock, valued at $581,042,879.72. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of Amazon.com stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total value of $239,770.00. Following the completion of the transaction, the chief executive officer owned 484,527 shares in the company, valued at $116,175,038.79. The trade was a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 140,425 shares of company stock worth $37,715,464. 8.90% of the stock is owned by corporate insiders.

Amazon.com Stock Down 0.7%

NASDAQ AMZN opened at $232.11 on Friday. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56. The company has a market capitalization of $2.50 trillion, a P/E ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.46. The company's 50 day simple moving average is $248.26 and its 200 day simple moving average is $236.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. Equities research analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMZN shares. New Street Research lifted their price objective on shares of Amazon.com from $280.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Benchmark upped their target price on shares of Amazon.com from $275.00 to $370.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. DA Davidson raised their price target on shares of Amazon.com from $175.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Rosenblatt Securities lifted their price target on Amazon.com from $296.00 to $332.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Telsey Advisory Group increased their price objective on Amazon.com from $300.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $312.91.

Key Stories Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here's What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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