Hexagon Capital Partners LLC Sells 1,803 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Hexagon Capital Partners LLC reduced its stake in Amazon.com by 8.6%, now holding 19,268 shares valued at approximately $3.67 million.
• Amazon reported $1.68 earnings per share (EPS) for the latest quarter, surpassing estimates, and achieved revenues of $167.70 billion, up 13.3% year-over-year.
• Analysts are optimistic about Amazon's stock, with a consensus rating of "Buy" and an average price target of $260.85, indicating potential growth ahead.

Hexagon Capital Partners LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,268 shares of the e-commerce giant's stock after selling 1,803 shares during the period. Amazon.com accounts for about 0.7% of Hexagon Capital Partners LLC's holdings, making the stock its 11th biggest position. Hexagon Capital Partners LLC's holdings in Amazon.com were worth $3,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth $25,000. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com in the fourth quarter valued at $27,000. LSV Asset Management acquired a new stake in Amazon.com in the fourth quarter valued at $35,000. Inlight Wealth Management LLC acquired a new stake in Amazon.com in the first quarter valued at $40,000. Finally, Perritt Capital Management Inc lifted 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 valued at $42,000 after acquiring an additional 80 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMZN. Pivotal Research raised their target price on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a report on Friday. BNP Paribas upgraded Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Evercore ISI dropped their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. HSBC lifted their price objective on Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. Finally, Benchmark reiterated a "buy" rating and set a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $262.45.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 25,099,537 shares of company stock valued at $5,674,394,548 in the last 90 days. Insiders own 9.70% of the company's stock.

Amazon.com Trading Down 8.3%

AMZN stock traded down $19.36 during midday trading on Friday, hitting $214.75. 122,007,379 shares of the company's stock were exchanged, compared to its average volume of 37,811,656. The stock's fifty day moving average price is $218.20 and its 200-day moving average price is $209.11. 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 company has a market cap of $2.28 trillion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.