Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Reduced by Hara Capital LLC

Key Points

• Hara Capital LLC has reduced its stake in Amazon.com by 21.6%, owning 5,050 shares valued at approximately $961,000 after the sale.
• Amazon reported strong earnings for the last quarter, with $1.68 EPS surpassing estimates of $1.31 and a revenue of $167.70 billion, marking a 13.3% year-over-year increase.
• Analysts have a consensus rating of "Buy" for Amazon, with a price target averaging $262.45 and recent upgrades from several investment firms indicating a bullish outlook.

Hara Capital LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,050 shares of the e-commerce giant's stock after selling 1,390 shares during the period. Hara Capital LLC's holdings in Amazon.com were worth $961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com in the fourth quarter worth approximately $25,000. Prudent Man Investment Management Inc. bought a new stake in Amazon.com in the fourth quarter worth approximately $27,000. LSV Asset Management bought a new stake in Amazon.com in the fourth quarter worth approximately $35,000. Cooksen Wealth LLC bought a new stake in Amazon.com in the first quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Amazon.com in the first quarter worth approximately $40,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMZN has been the subject of several recent research reports. BNP Paribas raised shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Stifel Nicolaus boosted their price objective on shares of Amazon.com from $245.00 to $262.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Citizens Jmp began coverage on shares of Amazon.com in a research note on Thursday, July 10th. They issued a "strong-buy" rating for the company. Piper Sandler boosted their price objective on shares of Amazon.com from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Susquehanna boosted their price objective on shares of Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a research note on Friday, August 1st. One investment analyst has 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. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $262.45.

Amazon.com Stock Up 1.0%

Shares of NASDAQ AMZN opened at $213.75 on Wednesday. The firm has a market capitalization of $2.28 trillion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 1 year low of $158.54 and a 1 year high of $242.52. The firm's 50-day moving average is $218.57 and its 200-day moving average is $208.96.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. Equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 25,102,037 shares of company stock valued at $5,674,937,048. 10.80% of the stock is currently owned by company insiders.

Amazon.com Company 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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