Sterling Capital Management LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 389,932 shares of the e-commerce giant's stock after selling 89,439 shares during the period. Amazon.com accounts for 1.5% of Sterling Capital Management LLC's portfolio, making the stock its 7th biggest position. Sterling Capital Management LLC's holdings in Amazon.com were worth $81,211,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. MilWealth Group LLC increased its position in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. bought a new position in Amazon.com in the fourth quarter valued at about $45,000. Elkhorn Partners Limited Partnership boosted its holdings in shares of Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after buying an additional 180 shares during the last quarter. Fairway Wealth LLC boosted its stake in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after acquiring an additional 108 shares during the last quarter. Finally, Prudent Man Investment Management Inc. lifted its position in Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 72.20% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on AMZN. Evercore increased their price objective on shares of Amazon.com from $285.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Barclays reissued an "overweight" rating on shares of Amazon.com in a report on Tuesday, June 9th. China Renaissance boosted their price objective on Amazon.com from $300.00 to $326.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Rosenblatt Securities increased their target price on shares of Amazon.com from $296.00 to $332.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research note 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. According to MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $312.79.
Read Our Latest Stock Report on Amazon.com
Insider Transactions at Amazon.com
In other news, VP Shelley Reynolds sold 2,363 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the transaction, the vice president directly owned 119,780 shares in the company, valued at $31,427,876.40. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total transaction of $239,770.00. Following the sale, the chief executive officer directly owned 484,527 shares in the company, valued at approximately $116,175,038.79. The trade was a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 195,774 shares of company stock worth $51,643,704 in the last three months. Company insiders own 8.90% of the company's stock.
Amazon.com News Roundup
Here are the key news stories impacting Amazon.com this week:
Amazon.com Price Performance
Shares of AMZN opened at $242.67 on Friday. The firm has a market cap of $2.61 trillion, a P/E ratio of 29.03, a PEG ratio of 1.81 and a beta of 1.46. The stock's 50 day moving average is $254.57 and its two-hundred day moving average is $234.57. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12 month low of $196.00 and a 12 month high of $278.56.
Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The firm's quarterly revenue was up 16.6% on a year-over-year basis. Analysts predict that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.
About Amazon.com
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Amazon.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amazon.com wasn't on the list.
While Amazon.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
