Braun Stacey Associates Inc. Sells 23,326 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Braun Stacey Associates Inc. reduced its stake in Amazon by 4.7%, owning 467,771 shares after selling 23,326 in the first quarter, which makes Amazon approximately 3.6% of their portfolio.
• Several institutional investors, including Castlekeep Investment Advisors LLC and LSV Asset Management, have recently acquired new positions in Amazon, indicating heightened interest in the stock.
• Analysts have provided a predominantly positive outlook for Amazon, with an average price target of $255.52 and a consensus rating of "Moderate Buy" based on 45 buy ratings.

Braun Stacey Associates Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 467,771 shares of the e-commerce giant's stock after selling 23,326 shares during the quarter. Amazon.com makes up about 3.6% of Braun Stacey Associates Inc.'s holdings, making the stock its 4th biggest holding. Braun Stacey Associates Inc.'s holdings in Amazon.com were worth $88,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Tallon Kerry Patrick bought a new position in Amazon.com during the 4th quarter valued at about $800,000. LaFleur & Godfrey LLC lifted its stake in shares of Amazon.com by 1.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after purchasing an additional 860 shares during the period. Brighton Jones LLC lifted its stake in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after purchasing an additional 397,007 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Amazon.com by 4.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after purchasing an additional 986 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMZN. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Citizens Jmp began coverage on shares of Amazon.com in a research note on Thursday, July 10th. They issued a "strong-buy" rating on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Amazon.com in a research note on Monday, July 28th. BNP Paribas Exane upgraded shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price objective on the stock in a research note on Friday, June 27th. Finally, Cantor Fitzgerald increased their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of "Buy" and a consensus price target of $260.85.

Amazon.com Price Performance

Shares of AMZN traded down $19.36 during trading hours on Friday, hitting $214.75. 122,007,379 shares of the stock were exchanged, compared to its average volume of 37,811,656. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. The stock's 50-day moving average price is $218.20 and its two-hundred day moving average price is $209.21.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results 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. The company had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. The firm's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. Research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 25,099,537 shares of company stock valued at $5,674,394,548. 9.70% of the stock is owned by corporate insiders.

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.