Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Lowered by Consolidated Capital Management LLC

Key Points

• Consolidated Capital Management LLC reduced its stake in Amazon.com, Inc. by 5.6%, owning 65,939 shares worth approximately $12.5 million after selling 3,903 shares in the last quarter.
• Insider Jeff Bezos sold 2.64 million shares of Amazon, valued at over $609 million, representing a 0.30% decrease in his total ownership of the company.
• Amazon.com reported a 13.3% year-over-year increase in quarterly revenue, totaling $167.70 billion and beating analysts' expectations with earnings of $1.68 per share.

Consolidated Capital Management LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,939 shares of the e-commerce giant's stock after selling 3,903 shares during the quarter. Amazon.com comprises 5.2% of Consolidated Capital Management LLC's portfolio, making the stock its 6th largest position. Consolidated Capital Management LLC's holdings in Amazon.com were worth $12,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth approximately $27,266,582,000. GAMMA Investing LLC lifted its position in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares during the period. Capital World Investors lifted its position in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Vanguard Group Inc. lifted its position in Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. Finally, Capital International Investors lifted its position in Amazon.com by 26.5% during the fourth quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant's stock valued at $12,564,961,000 after purchasing an additional 12,000,745 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMZN. Canaccord Genuity Group reiterated a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a research report on Friday. Moffett Nathanson increased their price objective on shares of Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Cowen reissued a "buy" rating on shares of Amazon.com in a research note on Friday. Roth Capital set a $250.00 price objective on shares of Amazon.com and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $265.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $262.45.

Amazon.com Stock Performance

Shares of AMZN stock traded down $19.36 during trading hours on Friday, hitting $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 43,924,596. The company has a 50 day moving average of $218.20 and a 200 day moving average of $209.11. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The stock has a market cap of $2.28 trillion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 1.57 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 (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business had revenue of $167.70 billion during the quarter, compared to analysts' expectations of $161.80 billion. During the same period in the prior year, the business earned $1.26 earnings per share. The company's quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the transaction, the insider owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 25,099,537 shares of company stock worth $5,674,394,548 in the last ninety days. 10.80% of the stock is owned by company insiders.

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.