Royal Harbor Partners LLC Sells 1,945 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Royal Harbor Partners LLC reduced its stake in Amazon.com by 11.1%, selling 1,945 shares, which now represents approximately 1.2% of their portfolio.
• Amazon.com reported $1.59 earnings per share for the last quarter, exceeding analysts' estimates of $1.38, with revenue increasing by 8.6% year-over-year to $155.67 billion.
• Insider Jeffrey P. Bezos sold over 4 million shares for approximately $960 million, slightly decreasing his ownership stake in the company.

Royal Harbor Partners LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,633 shares of the e-commerce giant's stock after selling 1,945 shares during the quarter. Amazon.com comprises about 1.2% of Royal Harbor Partners LLC's holdings, making the stock its 26th largest position. Royal Harbor Partners LLC's holdings in Amazon.com were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth approximately $25,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter worth approximately $27,000. LSV Asset Management bought a new position in Amazon.com during the fourth quarter worth $35,000. Inlight Wealth Management LLC bought a new position in Amazon.com during the first quarter worth $40,000. Finally, Perritt Capital Management Inc lifted its stake in Amazon.com by 72.7% during 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. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

AMZN has been the topic of several research analyst reports. Rosenblatt Securities raised their price objective on Amazon.com from $288.00 to $297.00 and gave the stock a "buy" rating in a research note on Friday. Cowen reiterated a "buy" rating on shares of Amazon.com in a research note on Friday. Robert W. Baird raised their target price on Amazon.com from $220.00 to $244.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Oppenheimer cut their target price on Amazon.com from $250.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, BNP Paribas Exane upgraded Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price on the stock in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, forty-six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $260.85.

Amazon.com Price Performance

Amazon.com stock traded down $19.36 on Friday, reaching $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 44,843,602. 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 price-to-earnings ratio of 34.98, a PEG ratio of 1.71 and a beta of 1.33. The business's fifty day moving average price is $217.93 and its 200 day moving average price is $209.23. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. Equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 25,099,537 shares of company stock worth $5,674,394,548 over the last quarter. Corporate insiders own 9.70% of the company's stock.

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.