REDW Wealth LLC Trims Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• REDW Wealth LLC has reduced its stake in Amazon.com by 16.5% during the first quarter, now holding 5,896 shares, valued at approximately $1.12 million.
• Amazon's earnings per share for the last quarter were reported at $1.68, exceeding analysts' estimates of $1.31, with revenue of $167.70 billion.
• Recent analyst reports have resulted in multiple price target increases for Amazon, with JMP Securities raising their target from $250 to $285, reflecting a strong consensus on the stock's potential.

REDW Wealth LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,896 shares of the e-commerce giant's stock after selling 1,161 shares during the quarter. REDW Wealth LLC's holdings in Amazon.com were worth $1,122,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Whelan Financial boosted its position in shares of Amazon.com by 21.9% during the first quarter. Whelan Financial now owns 9,569 shares of the e-commerce giant's stock worth $1,821,000 after buying an additional 1,718 shares during the period. Burke & Herbert Bank & Trust Co. raised its position in Amazon.com by 2.7% in the 1st quarter. Burke & Herbert Bank & Trust Co. now owns 13,512 shares of the e-commerce giant's stock valued at $2,571,000 after buying an additional 360 shares during the last quarter. Sharp Financial Services LLC lifted its stake in Amazon.com by 31.2% in the 1st quarter. Sharp Financial Services LLC now owns 4,383 shares of the e-commerce giant's stock valued at $834,000 after acquiring an additional 1,043 shares in the last quarter. Novare Capital Management LLC boosted its position in Amazon.com by 1.9% during the 1st quarter. Novare Capital Management LLC now owns 133,875 shares of the e-commerce giant's stock worth $25,471,000 after acquiring an additional 2,462 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. boosted its position in Amazon.com by 0.3% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 216,145 shares of the e-commerce giant's stock worth $41,124,000 after acquiring an additional 639 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Price Performance

Amazon.com stock traded down $19.36 during trading hours on Friday, hitting $214.75. 122,007,379 shares of the stock were exchanged, compared to its average volume of 37,811,656. 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 stock has a market capitalization of $2.28 trillion, a P/E ratio of 32.74, a P/E/G ratio of 1.59 and a beta of 1.31. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The business's 50-day moving average is $218.20 and its two-hundred day 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 for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. During the same period last year, the business posted $1.26 earnings per share. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business'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 transaction, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on AMZN shares. Mizuho reduced their target price on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. UBS Group reiterated a "buy" rating and issued a $271.00 price target (up from $249.00) on shares of Amazon.com in a research note on Monday, July 28th. BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Morgan Stanley restated an "overweight" rating on shares of Amazon.com in a report on Monday, July 28th. Finally, Barclays upped their target price on Amazon.com from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $260.85.

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.