Xponance Inc. Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Xponance Inc. has reduced its stake in Amazon.com by 0.6%, now holding 2,302,807 shares valued at approximately $438.1 million, making Amazon its fourth-largest holding.
• Multiple analysts have recently upgraded their price targets for Amazon.com, with the consensus target price now at $262.45, and most ratings being "Buy".
• Insiders, including CEO Douglas J. Herrington and founder Jeffrey P. Bezos, have sold shares recently, with Bezos selling over 2.6 million shares valued at approximately $609 million.

Xponance Inc. cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,302,807 shares of the e-commerce giant's stock after selling 12,741 shares during the period. Amazon.com makes up approximately 4.2% of Xponance Inc.'s holdings, making the stock its 4th largest holding. Xponance Inc.'s holdings in Amazon.com were worth $438,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Western Wealth Management LLC raised its stake in shares of Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after purchasing an additional 1,297 shares in the last quarter. Momentous Wealth Management Inc. bought a new stake in Amazon.com in the fourth quarter valued at about $749,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Amazon.com during the first quarter valued at approximately $514,000. Segall Bryant & Hamill LLC lifted its holdings in Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after buying an additional 39,696 shares during the last quarter. Finally, Bearing Point Capital LLC acquired a new position in shares of Amazon.com in the 4th quarter worth approximately $12,014,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMZN shares. Canaccord Genuity Group reissued a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday, August 1st. Sanford C. Bernstein set a $235.00 price target on shares of Amazon.com and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Scotiabank boosted their price objective on shares of Amazon.com from $250.00 to $275.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald increased their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded Amazon.com from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $262.45.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares of the company's stock, valued at approximately $111,114,850. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,102,037 shares of company stock valued at $5,674,937,048 over the last three months. Insiders own 9.70% of the company's stock.

Amazon.com Stock Down 0.2%

AMZN stock traded down $0.44 during mid-day trading on Friday, hitting $222.69. The stock had a trading volume of 32,911,537 shares, compared to its average volume of 47,624,592. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a fifty day moving average of $219.65 and a 200 day moving average of $208.98. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 33.95, a PEG ratio of 1.50 and a beta of 1.31.

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

About Amazon.com

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.