Amazon.com, Inc. (NASDAQ:AMZN) Position Cut by Trust Point Inc.

Trust Point Inc. trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 31.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,214 shares of the e-commerce giant's stock after selling 15,199 shares during the period. Amazon.com makes up approximately 0.6% of Trust Point Inc.'s investment portfolio, making the stock its 23rd largest holding. Trust Point Inc.'s holdings in Amazon.com were worth $6,319,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Momentous Wealth Management Inc. acquired a new position in Amazon.com during the fourth quarter worth about $749,000. Segall Bryant & Hamill LLC increased its stake in Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares in the last quarter. Bearing Point Capital LLC acquired a new stake in Amazon.com during the 4th quarter worth about $12,014,000. Evergreen Capital Management LLC boosted its position in Amazon.com by 0.5% during the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock worth $53,213,000 after acquiring an additional 1,198 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Amazon.com by 173.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock valued at $759,434,000 after buying an additional 2,196,353 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMZN shares. Rosenblatt Securities lifted their price target on Amazon.com from $287.00 to $288.00 and gave the company a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group lowered their price target on Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on Amazon.com from $225.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Westpark Capital reiterated a "buy" rating and issued a $280.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Tigress Financial lifted their price objective on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and a consensus target price of $245.60.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 20,923 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian T. Olsavsky sold 17,750 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the transaction, the chief financial officer directly owned 49,000 shares of the company's stock, valued at $9,876,930. This trade represents a 26.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,424,463 shares of company stock worth $756,747,557 in the last three months. 9.70% of the stock is owned by insiders.

Amazon.com Trading Down 0.2%

Shares of Amazon.com stock opened at $219.92 on Thursday. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The stock has a market cap of $2.33 trillion, a P/E ratio of 35.82, a P/E/G ratio of 1.66 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The business's 50 day moving average is $205.03 and its 200-day moving average is $208.83.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share 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.

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