Cerro Pacific Wealth Advisors LLC Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cerro Pacific Wealth Advisors LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,707 shares of the e-commerce giant's stock after selling 1,292 shares during the quarter. Cerro Pacific Wealth Advisors LLC's holdings in Amazon.com were worth $2,608,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Castlekeep Investment Advisors LLC bought a new position in Amazon.com during the 4th quarter worth approximately $25,000. Accordant Advisory Group Inc raised its holdings in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after buying an additional 100 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter worth approximately $35,000. Finally, Perritt Capital Management Inc raised its holdings in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after buying an additional 80 shares during the period. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

AMZN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Truist Financial lowered their price objective on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Piper Sandler reiterated an "overweight" rating and issued a $212.00 price objective (down from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Stifel Nicolaus lowered their price objective on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Amazon.com from $225.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.89.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $204.98, for a total transaction of $512,450.00. Following the sale, the chief executive officer now owns 517,050 shares in the company, valued at $105,984,909. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,000,233.60. Following the sale, the chief executive officer now owns 2,148,694 shares in the company, valued at $432,532,102.20. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,037 shares of company stock valued at $20,531,075. Corporate insiders own 9.70% of the company's stock.

Amazon.com Stock Performance

Amazon.com stock traded down $1.14 during mid-day trading on Friday, reaching $212.10. 29,295,190 shares of the company were exchanged, compared to its average volume of 42,179,363. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The firm's 50-day simple moving average is $195.47 and its two-hundred day simple moving average is $209.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market cap of $2.25 trillion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the business posted $0.98 EPS. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal 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.