Avior Wealth Management LLC Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Avior Wealth Management LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,750 shares of the e-commerce giant's stock after selling 10,373 shares during the quarter. Avior Wealth Management LLC's holdings in Amazon.com were worth $14,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the fourth quarter valued at $27,000. LSV Asset Management bought a new position in Amazon.com during the fourth quarter valued at $35,000. Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Finally, Compass Planning Associates Inc bought a new position in Amazon.com during the fourth quarter valued at $51,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

NASDAQ AMZN traded up $3.18 on Wednesday, hitting $222.54. 38,034,550 shares of the company's stock traded hands, compared to its average volume of 42,037,661. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The firm's 50-day moving average price is $207.80 and its two-hundred day moving average price is $208.58. The firm has a market capitalization of $2.36 trillion, a PE ratio of 36.24, a P/E/G ratio of 1.68 and a beta of 1.33.

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

Insider Transactions at Amazon.com

In related news, CEO Matthew S. Garman sold 20,923 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian T. Olsavsky sold 17,750 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were 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 owned 49,000 shares of the company's stock, valued at approximately $9,876,930. This represents a 26.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,401,408 shares of company stock worth $1,423,159,137. Insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of several research reports. Truist Financial increased their price objective on shares of Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group lowered their target price on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $225.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Piper Sandler restated an "overweight" rating and issued a $212.00 target price (down previously from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Finally, UBS Group restated a "buy" rating on shares of Amazon.com in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $246.41.

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.