Viewpoint Capital Management LLC Has $23.58 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Viewpoint Capital Management LLC reduced its stake in Amazon.com by 1.0%, holding 123,936 shares worth approximately $23.58 million, making it the largest holding in their portfolio.
• Insider Jeffrey P. Bezos sold over 4.2 million shares of Amazon, valued at nearly $960.67 million, reducing his position by 0.47% to approximately 897.72 million shares.
• Wall Street analysts maintain a generally positive outlook on Amazon, with a consensus rating of "Moderate Buy" and an average target price projected at $255.52.

Viewpoint Capital Management LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,936 shares of the e-commerce giant's stock after selling 1,246 shares during the quarter. Amazon.com accounts for about 12.7% of Viewpoint Capital Management LLC's portfolio, making the stock its biggest holding. Viewpoint Capital Management LLC's holdings in Amazon.com were worth $23,580,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in shares of Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management bought a new position in shares of Amazon.com during the 4th quarter worth approximately $35,000. Perritt Capital Management Inc boosted its stake in shares of 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 acquiring an additional 80 shares during the period. Inlight Wealth Management LLC bought a new position in shares of Amazon.com during the 1st quarter worth approximately $40,000. Finally, Capitol Family Office Inc. bought a new position in shares of Amazon.com during the 1st quarter worth approximately $42,000. 72.20% of the stock is currently owned by institutional investors.

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 on Friday, July 11th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 25,099,537 shares of company stock worth $5,674,394,548 in the last three months. 9.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on Amazon.com from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday. Needham & Company LLC reiterated a "buy" rating and set a $265.00 target price on shares of Amazon.com in a research note on Friday. BNP Paribas Exane raised Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price target for the company in a report on Friday, June 27th. HSBC lifted their price target on Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Finally, Susquehanna lifted their price target on Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $260.85.

Amazon.com Trading Down 8.3%

Shares of NASDAQ:AMZN traded down $19.36 on Friday, reaching $214.75. 122,007,379 shares of the company traded hands, compared to its average volume of 37,811,656. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The business's 50-day simple moving average is $218.20 and its 200 day simple moving average is $209.21.

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 (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 24.90% and a net margin of 10.54%. Amazon.com's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS 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.