Amazon.com, Inc. $AMZN Shares Sold by VCI Wealth Management LLC

Key Points

• VCI Wealth Management LLC cut its Amazon stake by 5.5% in the first quarter, selling 2,198 shares and leaving it with 37,815 shares worth about $7.88 million. Amazon remains the firm’s 14th-largest holding, making up roughly 2.2% of its portfolio.
• Insider selling continued at Amazon, with CEO Andrew R. Jassy and CEO Douglas J. Herrington both selling shares in recent months. In the last three months, insiders sold 195,774 shares valued at about $51.6 million.
• Despite the selling activity, Amazon’s fundamentals and outlook remain strong: the company beat quarterly earnings and revenue estimates, and analysts are broadly bullish with a Moderate Buy consensus and an average price target of $312.79.

VCI Wealth Management LLC decreased its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,815 shares of the e-commerce giant's stock after selling 2,198 shares during the period. Amazon.com accounts for approximately 2.2% of VCI Wealth Management LLC's investment portfolio, making the stock its 14th largest position. VCI Wealth Management LLC's holdings in Amazon.com were worth $7,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Welch Group LLC increased its stake in Amazon.com by 3.2% during the first quarter. Welch Group LLC now owns 67,464 shares of the e-commerce giant's stock worth $14,051,000 after acquiring an additional 2,068 shares during the last quarter. Wealth Effects LLC raised its position in Amazon.com by 2.7% in the first quarter. Wealth Effects LLC now owns 63,605 shares of the e-commerce giant's stock valued at $13,247,000 after purchasing an additional 1,658 shares during the period. Piedmont Capital Management LLC NC lifted its stake in shares of Amazon.com by 1.5% in the 1st quarter. Piedmont Capital Management LLC NC now owns 7,080 shares of the e-commerce giant's stock valued at $1,475,000 after purchasing an additional 107 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Amazon.com by 3.1% in the 1st quarter. Wesbanco Bank Inc. now owns 409,707 shares of the e-commerce giant's stock valued at $85,330,000 after purchasing an additional 12,200 shares during the last quarter. Finally, Retirement Planning Group LLC NY grew its holdings in shares of Amazon.com by 22.8% during the 1st quarter. Retirement Planning Group LLC NY now owns 3,530 shares of the e-commerce giant's stock worth $735,000 after purchasing an additional 655 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 of the company's stock, valued at approximately $116,175,038.79. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 195,774 shares of company stock valued at $51,643,704. Corporate insiders own 8.90% of the company's stock.

Key Headlines Impacting Amazon.com

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

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Price Performance

AMZN stock opened at $242.67 on Friday. The business's fifty day moving average price is $254.57 and its 200 day moving average price is $234.57. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $1.15. The company had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the business posted $1.59 EPS. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMZN shares. Arete Research raised their price objective on Amazon.com from $301.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Guggenheim reaffirmed a "buy" rating and issued a $320.00 target price (up from $300.00) on shares of Amazon.com in a research report on Thursday, April 30th. New Street Research increased their target price on shares of Amazon.com from $280.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Susquehanna reaffirmed a "positive" rating and set a $325.00 target price (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, KeyCorp lifted their price target on shares of Amazon.com from $325.00 to $330.00 and gave the company an "overweight" rating in a research 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $312.79.

About Amazon.com

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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