BetterWealth LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• BetterWealth LLC has reduced its holdings in Amazon.com by 48.5%, now owning 3,677 shares valued at $700,000, as reported to the SEC.
• Despite the reduction, Amazon's stock remains popular among institutional investors, with hedge funds owning 72.20% of the company.
• Amazon's quarterly revenue increased by 8.6% year-over-year, with earnings per share of $1.59 surpassing analyst expectations of $1.38.

BetterWealth LLC decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 48.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,677 shares of the e-commerce giant's stock after selling 3,456 shares during the period. BetterWealth LLC's holdings in Amazon.com were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Castlekeep Investment Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at approximately $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new position in Amazon.com during the fourth quarter valued at approximately $35,000. Inlight Wealth Management LLC bought a new position in Amazon.com during the first quarter valued at approximately $40,000. Finally, Perritt Capital Management Inc boosted its stake in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after buying an additional 80 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 25,102,037 shares of company stock worth $5,674,871,223. 9.70% of the stock is owned by insiders.

Amazon.com Stock Down 0.8%

Shares of NASDAQ:AMZN traded down $1.89 on Tuesday, reaching $230.90. The company had a trading volume of 8,528,015 shares, compared to its average volume of 43,771,383. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The firm's 50 day simple moving average is $216.19 and its 200-day simple moving average is $208.82. The firm has a market capitalization of $2.45 trillion, a PE ratio of 37.61, a PEG ratio of 1.72 and a beta of 1.33. 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 (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the business posted $0.98 EPS. The business's revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMZN has been the subject of a number of research reports. BMO Capital Markets increased their price target on Amazon.com from $233.00 to $270.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus raised their price objective on Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a research note on Tuesday. HSBC raised their price objective on Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Wall Street Zen lowered Amazon.com from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Amazon.com in a research note on Monday. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus target price of $255.21.

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.