Davidson Investment Advisors Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Davidson Investment Advisors has reduced its stake in Amazon.com by 7.9%, holding 416,047 shares, accounting for 3.9% of their investment portfolio.
• Several analysts recently raised their price targets for Amazon, with an average target price now at $262.45 and a consensus rating of "Buy."
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon stock for approximately $609 million, representing a 0.3% decrease in his ownership.

Davidson Investment Advisors lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 416,047 shares of the e-commerce giant's stock after selling 35,663 shares during the period. Amazon.com comprises about 3.9% of Davidson Investment Advisors' holdings, making the stock its 4th biggest position. Davidson Investment Advisors' holdings in Amazon.com were worth $79,157,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter worth about $27,000. LSV Asset Management purchased a new position in shares of Amazon.com in the fourth quarter worth about $35,000. Perritt Capital Management Inc increased its stake in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the first quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the first quarter worth about $40,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 25,099,537 shares of company stock valued at $5,674,394,548 over the last quarter. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the subject of several recent analyst reports. Robert W. Baird boosted their price objective on shares of Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Telsey Advisory Group lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday. Oppenheimer dropped their target price on shares of Amazon.com from $250.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday. UBS Group reiterated a "buy" rating and set a $271.00 target price (up from $249.00) on shares of Amazon.com in a research report on Monday, July 28th. Finally, Tigress Financial lifted their target price on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com has a consensus rating of "Buy" and an average price target of $262.45.

Amazon.com Stock Performance

NASDAQ AMZN traded down $19.36 on Friday, reaching $214.75. 122,007,379 shares of the stock were exchanged, compared to its average volume of 43,924,596. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a market capitalization of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.57 and a beta of 1.31. The company's 50-day simple moving average is $218.20 and its two-hundred day simple moving average is $209.11. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.