AMI Asset Management Corp Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

AMI Asset Management Corp lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 385,169 shares of the e-commerce giant's stock after selling 13,176 shares during the quarter. Amazon.com makes up 4.3% of AMI Asset Management Corp's holdings, making the stock its 5th biggest position. AMI Asset Management Corp's holdings in Amazon.com were worth $73,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Flavin Financial Services Inc. raised its stake in Amazon.com by 10.2% in the first quarter. Flavin Financial Services Inc. now owns 4,408 shares of the e-commerce giant's stock valued at $839,000 after buying an additional 408 shares during the period. Sabal Trust CO increased its holdings in shares of Amazon.com by 5.4% during the 1st quarter. Sabal Trust CO now owns 48,971 shares of the e-commerce giant's stock worth $9,317,000 after acquiring an additional 2,490 shares during the last quarter. Western Wealth Management LLC raised its stake in Amazon.com by 0.9% in the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after acquiring an additional 1,297 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in Amazon.com by 8.2% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101,108 shares of the e-commerce giant's stock valued at $19,237,000 after purchasing an additional 7,653 shares during the last quarter. Finally, Nova R Wealth Inc. lifted its holdings in Amazon.com by 1.4% during the 1st quarter. Nova R Wealth Inc. now owns 18,640 shares of the e-commerce giant's stock valued at $3,546,000 after purchasing an additional 258 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Trading Up 1.0%

Shares of AMZN stock traded up $2.25 during trading hours on Friday, hitting $226.13. 37,691,170 shares of the company were exchanged, compared to its average volume of 41,988,670. The company has a 50 day simple moving average of $213.50 and a two-hundred day simple moving average of $208.67. The firm has a market cap of $2.40 trillion, a P/E ratio of 36.83, a P/E/G ratio of 1.69 and a beta of 1.33. 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 fifty-two week low of $151.61 and a fifty-two week high of $242.52.

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

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of the 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 sale, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,335,232 shares of company stock worth $3,210,622,570. 9.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of several research reports. UBS Group reaffirmed a "buy" rating on shares of Amazon.com in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of Amazon.com from $250.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Scotiabank lowered their price target on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. DA Davidson dropped their price objective on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, BNP Paribas Exane raised shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price objective for the company in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $250.35.

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.