Avaii Wealth Management LLC Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Avaii Wealth Management LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 25.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,069 shares of the e-commerce giant's stock after selling 11,017 shares during the quarter. Amazon.com makes up about 3.4% of Avaii Wealth Management LLC's investment portfolio, making the stock its 9th largest holding. Avaii Wealth Management LLC's holdings in Amazon.com were worth $6,292,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Amazon.com during the fourth quarter worth about $27,266,582,000. GAMMA Investing LLC grew its holdings in shares of 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 last quarter. Capital World Investors grew its stake in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after buying an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. increased its position in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after buying an additional 17,635,391 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after buying an additional 12,018,120 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com Stock Down 1.8%

NASDAQ:AMZN opened at $219.39 on Tuesday. The business's fifty day moving average price is $203.30 and its 200 day moving average price is $208.67. The firm has a market capitalization of $2.33 trillion, a price-to-earnings ratio of 35.73, a PEG ratio of 1.68 and a beta of 1.34. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 17,750 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.57, for a total value of $3,577,867.50. Following the transaction, the chief financial officer owned 49,000 shares in the company, valued at approximately $9,876,930. This represents a 26.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 13,570 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the sale, the senior vice president owned 47,030 shares of the company's stock, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,537 shares of company stock valued at $20,061,100 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMZN. Oppenheimer boosted their target price on shares of Amazon.com from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Citizens Jmp reduced their price objective on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Wall Street Zen downgraded Amazon.com from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada reduced their price target on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $245.81.

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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