Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Cut by Avity Investment Management Inc.

Avity Investment Management Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,387 shares of the e-commerce giant's stock after selling 6,466 shares during the period. Amazon.com comprises about 4.3% of Avity Investment Management Inc.'s portfolio, making the stock its 4th biggest position. Avity Investment Management Inc.'s holdings in Amazon.com were worth $53,727,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc boosted its holdings in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. LSV Asset Management acquired a new position in Amazon.com in the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc boosted its holdings 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 valued at $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $51,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Down 1.1%

AMZN opened at $212.52 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.26 trillion, a P/E ratio of 34.61, a PEG ratio of 1.63 and a beta of 1.33. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The business's fifty day simple moving average is $197.28 and its 200 day simple moving average is $209.32.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 20,923 shares of the firm's stock in a transaction dated 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 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 stock was sold at an average price of $204.98, for a total value of $512,450.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock valued at $20,531,075 over the last quarter. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMZN shares. Bank of America increased their price objective on Amazon.com from $230.00 to $248.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Morgan Stanley decreased their price objective on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wedbush reissued an "outperform" rating and issued a $235.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Cantor Fitzgerald increased their price objective on Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada decreased their price objective on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.89.

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.

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