Amazon.com, Inc. (NASDAQ:AMZN) Stake Trimmed by CCM Investment Advisers LLC

CCM Investment Advisers LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,056 shares of the e-commerce giant's stock after selling 8,540 shares during the quarter. Amazon.com accounts for about 3.3% of CCM Investment Advisers LLC's investment portfolio, making the stock its 3rd largest position. CCM Investment Advisers LLC's holdings in Amazon.com were worth $26,647,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc increased its position 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 worth $42,000 after purchasing an additional 80 shares during the last quarter. Finally, Compass Planning Associates Inc bought a new stake in Amazon.com in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMZN. Bank of America boosted their price target on shares of Amazon.com from $230.00 to $248.00 and gave the stock a "buy" rating in a research report on Monday, June 2nd. Piper Sandler restated an "overweight" rating and issued a $212.00 price target (down previously from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Mizuho reduced their price target on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Barclays reduced their price target on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Citigroup restated a "buy" rating on shares of Amazon.com in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $245.81.

Amazon.com Stock Up 2.8%

Shares of NASDAQ AMZN opened at $223.30 on Monday. 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 $2.37 trillion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.34. The stock's fifty day simple moving average is $202.26 and its two-hundred day simple moving average is $208.72. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

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 analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the business posted $0.98 EPS. The company's revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CEO Matthew S. Garman sold 20,923 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,037 shares of company stock worth $20,531,075. Insiders own 10.80% of the company's stock.

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.

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