Acorn Financial Advisory Services Inc. ADV Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Acorn Financial Advisory Services Inc. has reduced its stake in Amazon.com by 10.7%, now holding 17,106 shares valued at approximately $3.25 million.
• Insider Jeffrey P. Bezos sold over 2.64 million shares of Amazon, decreasing his ownership by 0.30%, but he still retains over 883 million shares valued at around $203.65 billion.
• Analysts have adjusted their price targets for Amazon, with Goldman Sachs lowering it to $220 and Citigroup raising it to $265, while the consensus rating remains a "Moderate Buy" with a target price of $255.52.

Acorn Financial Advisory Services Inc. ADV decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,106 shares of the e-commerce giant's stock after selling 2,056 shares during the period. Amazon.com accounts for approximately 0.6% of Acorn Financial Advisory Services Inc. ADV's holdings, making the stock its 22nd biggest holding. Acorn Financial Advisory Services Inc. ADV's holdings in Amazon.com were worth $3,255,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the fourth quarter worth approximately $27,000. LSV Asset Management purchased a new position in Amazon.com in the fourth quarter worth $35,000. Perritt Capital Management Inc grew its holdings in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after purchasing an additional 80 shares during the last quarter. Inlight Wealth Management LLC purchased a new position in Amazon.com in the first quarter worth $40,000. Finally, Capitol Family Office Inc. purchased a new stake in shares of Amazon.com during the first quarter valued at $42,000. Institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMZN shares. HSBC boosted their price objective on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Scotiabank boosted their target price on shares of Amazon.com from $250.00 to $275.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Monness Crespi & Hardt boosted their target price on shares of Amazon.com from $265.00 to $275.00 and gave the company a "buy" rating in a research report on Friday. Sanford C. Bernstein set a $235.00 target price on shares of Amazon.com and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, Susquehanna boosted their target price on shares of Amazon.com from $225.00 to $260.00 and gave the company a "positive" rating in a research report on Friday. Two analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $260.85.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 25,099,537 shares of company stock worth $5,674,394,548 in the last ninety days. Insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN traded down $19.36 during midday trading on Friday, hitting $214.75. The company had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The business has a 50-day simple moving average of $218.20 and a two-hundred day simple moving average of $209.21. The firm has a market capitalization 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.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 10.54% and a return on equity of 24.90%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.