Clune & Associates LTD. Boosts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Clune & Associates LTD. increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,866 shares of the e-commerce giant's stock after acquiring an additional 1,468 shares during the period. Clune & Associates LTD.'s holdings in Amazon.com were worth $1,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northern Capital Management Inc. boosted its holdings in shares of Amazon.com by 0.6% in the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after acquiring an additional 45 shares during the period. Balanced Wealth Group LLC raised its position in shares of Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock worth $705,000 after buying an additional 48 shares in the last quarter. ETF Store Inc. raised its position in shares of Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock worth $522,000 after buying an additional 48 shares in the last quarter. TD Capital Management LLC raised its position in Amazon.com by 1.6% during the fourth quarter. TD Capital Management LLC now owns 3,058 shares of the e-commerce giant's stock valued at $671,000 after purchasing an additional 49 shares in the last quarter. Finally, Conservest Capital Advisors Inc. raised its position in Amazon.com by 0.8% during the fourth quarter. Conservest Capital Advisors Inc. now owns 6,651 shares of the e-commerce giant's stock valued at $1,459,000 after purchasing an additional 50 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Down 7.7%

Shares of AMZN traded down $18.04 during midday trading on Friday, hitting $216.07. 65,807,773 shares of the company's stock traded hands, compared to its average volume of 44,434,758. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm's fifty day moving average is $217.93 and its 200-day moving average is $209.23. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMZN shares. DA Davidson raised their price target on Amazon.com from $230.00 to $265.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company raised their price target on Amazon.com from $238.00 to $245.00 and gave the company an "equal weight" rating in a research report on Tuesday. Truist Financial lifted their target price on shares of Amazon.com from $226.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group lifted their target price on shares of Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Finally, Tigress Financial lifted their price objective on Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating 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 two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $260.65.

Amazon.com 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.