Sagespring Wealth Partners LLC Acquires 18,023 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Sagespring Wealth Partners LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,427 shares of the e-commerce giant's stock after purchasing an additional 18,023 shares during the period. Amazon.com comprises 0.3% of Sagespring Wealth Partners LLC's portfolio, making the stock its 29th largest holding. Sagespring Wealth Partners LLC's holdings in Amazon.com were worth $33,567,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMZN. Cable Hill Partners LLC raised its position in Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after purchasing an additional 44 shares during the last quarter. Northern Capital Management Inc. raised its position in 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 valued at $1,613,000 after purchasing an additional 45 shares during the last quarter. White Wing Wealth Management raised its position in Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after purchasing an additional 47 shares during the last quarter. Balanced Wealth Group LLC raised its position in 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 valued at $705,000 after purchasing an additional 48 shares during the last quarter. Finally, ETF Store Inc. raised its position in Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling

In other news, CEO Matthew S. Garman sold 20,923 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 3,100,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $221.42, for a total value of $686,402,000.00. Following the completion of the transaction, the insider owned 905,679,901 shares in the company, valued at $200,535,643,679.42. This represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,426,963 shares of company stock valued at $757,297,707. 9.70% of the stock is currently owned by company insiders.

Amazon.com Stock Up 1.5%

Amazon.com stock traded up $3.21 during mid-day trading on Friday, reaching $223.13. The stock had a trading volume of 29,632,353 shares, compared to its average volume of 42,031,611. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock's 50-day simple moving average is $206.44 and its 200-day simple moving average is $208.62. The firm has a market capitalization of $2.37 trillion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the company earned $0.98 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group dropped their target price on Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $260.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Raymond James Financial reissued an "outperform" rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Tigress Financial increased their price target on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Oppenheimer increased their price target on Amazon.com from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and an average price target of $245.60.

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.