Amazon.com, Inc. (NASDAQ:AMZN) is Wallace Advisory Group LLC's 3rd Largest Position

Wallace Advisory Group LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,470 shares of the e-commerce giant's stock after selling 2,777 shares during the period. Amazon.com comprises approximately 3.3% of Wallace Advisory Group LLC's investment portfolio, making the stock its 3rd largest holding. Wallace Advisory Group LLC's holdings in Amazon.com were worth $4,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Tallon Kerry Patrick bought a new stake in Amazon.com in the 4th quarter valued at about $800,000. Capital & Planning LLC grew its position in Amazon.com by 72.1% during the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after buying an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC increased its position in shares of Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after purchasing an additional 860 shares during the last quarter. Brighton Jones LLC raised its stake in Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after purchasing an additional 397,007 shares in the last quarter. Finally, Cottonwood Capital Advisors LLC lifted its position in Amazon.com by 11.8% during the fourth quarter. Cottonwood Capital Advisors LLC now owns 9,520 shares of the e-commerce giant's stock valued at $2,089,000 after purchasing an additional 1,003 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMZN shares. Royal Bank of Canada lowered their price objective on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on Amazon.com from $225.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Scotiabank dropped their price target on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Wedbush reissued an "outperform" rating and set a $235.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $235.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has an average rating of "Moderate Buy" and an average price target of $244.89.

Amazon.com Stock Down 0.5%

NASDAQ:AMZN traded down $1.14 during trading hours on Friday, reaching $212.10. 29,295,190 shares of the company traded hands, compared to its average volume of 42,102,749. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The business's 50-day moving average price is $194.64 and its two-hundred day moving average price is $209.13. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock has a market capitalization of $2.25 trillion, a P/E ratio of 38.35, a P/E/G ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $154.96 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Amazon.com's quarterly revenue was up 8.6% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president now owns 119,780 shares of the company's stock, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $204.98, for a total transaction of $512,450.00. Following the sale, the chief executive officer now directly owns 517,050 shares in the company, valued at approximately $105,984,909. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last 90 days. 9.70% of the stock is currently owned by insiders.

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.