Castle Rock Wealth Management LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Castle Rock Wealth Management LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,985 shares of the e-commerce giant's stock after selling 6,061 shares during the period. Amazon.com comprises approximately 2.3% of Castle Rock Wealth Management LLC's portfolio, making the stock its 11th biggest holding. Castle Rock Wealth Management LLC's holdings in Amazon.com were worth $8,461,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cable Hill Partners LLC boosted its holdings in shares of Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after acquiring an additional 44 shares during the period. Quattro Financial Advisors LLC boosted its holdings in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares during the period. Northern Capital Management Inc. boosted its holdings in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after acquiring an additional 45 shares during the period. White Wing Wealth Management boosted its holdings in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after acquiring an additional 47 shares during the period. Finally, Balanced Wealth Group LLC boosted its holdings in shares of Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock valued at $705,000 after acquiring an additional 48 shares during the period. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 1.9%

Shares of NASDAQ:AMZN traded up $4.00 on Monday, hitting $216.10. 33,119,260 shares of the company's stock were exchanged, compared to its average volume of 42,143,756. The firm's 50-day moving average is $196.38 and its 200 day moving average is $209.26. The company has a market capitalization of $2.29 trillion, a PE ratio of 39.08, a P/E/G ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the prior year, the firm posted $0.98 EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

AMZN has been the subject of several analyst reports. Stifel Nicolaus reduced their price target on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. DA Davidson cut their price objective on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Westpark Capital restated a "buy" rating and set a $280.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Morgan Stanley cut their price objective on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to data from MarketBeat.com, Amazon.com has a consensus rating of "Moderate Buy" and an average target price of $244.89.

Insider Activity

In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the sale, the director now directly owns 5,465 shares of the company's stock, valued at $1,151,366.20. This represents a 15.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total value of $512,450.00. Following the sale, the chief executive officer now directly owns 517,050 shares of the company's stock, valued at approximately $105,984,909. This represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,037 shares of company stock valued at $20,531,075. Insiders own 9.70% of the company's stock.

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.