Claris Advisors LLC MO Sells 1,319 Shares of Amazon.com, Inc. $AMZN

Key Points

• Claris Advisors LLC MO reduced its stake in Amazon.com by 14.5% in Q2 2023, selling 1,319 shares, which represents 0.6% of its total holdings.
• Several hedge funds, including Ridgecrest Wealth Partners LLC and Bare Financial Services Inc, increased their positions in Amazon.com during the same quarter, demonstrating ongoing institutional interest.
• Amazon.com reported an earnings per share (EPS) of $1.68 for the last quarter, exceeding estimates, with revenue reaching $167.70 billion, a 13.3% year-over-year increase.

Claris Advisors LLC MO trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,776 shares of the e-commerce giant's stock after selling 1,319 shares during the quarter. Amazon.com accounts for 0.6% of Claris Advisors LLC MO's holdings, making the stock its 25th largest holding. Claris Advisors LLC MO's holdings in Amazon.com were worth $1,706,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Ridgecrest Wealth Partners LLC increased its position in Amazon.com by 0.5% during the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant's stock worth $1,843,000 after purchasing an additional 45 shares in the last quarter. Bare Financial Services Inc increased its position in Amazon.com by 5.4% during the 1st quarter. Bare Financial Services Inc now owns 930 shares of the e-commerce giant's stock worth $177,000 after purchasing an additional 48 shares in the last quarter. Heritage Oak Wealth Advisors LLC increased its position in Amazon.com by 1.2% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 3,927 shares of the e-commerce giant's stock worth $862,000 after purchasing an additional 48 shares in the last quarter. Cobblestone Asset Management LLC increased its position in Amazon.com by 3.1% during the 2nd quarter. Cobblestone Asset Management LLC now owns 1,673 shares of the e-commerce giant's stock worth $367,000 after purchasing an additional 50 shares in the last quarter. Finally, Seek First Inc. increased its position in Amazon.com by 0.5% during the 2nd quarter. Seek First Inc. now owns 9,156 shares of the e-commerce giant's stock worth $2,009,000 after purchasing an additional 50 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMZN shares. Royal Bank Of Canada upped their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company upgraded shares of Amazon.com from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $245.00 to $280.00 in a report on Wednesday, September 24th. HSBC lifted their price target on shares of Amazon.com from $256.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, September 29th. Oppenheimer cut their price target on shares of Amazon.com from $250.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Finally, Westpark Capital reiterated a "buy" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $266.26.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $222.74, for a total transaction of $3,953,635.00. Following the completion of the transaction, the chief financial officer directly owned 49,000 shares in the company, valued at $10,914,260. This trade represents a 26.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 17,785 shares of Amazon.com stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $221.57, for a total transaction of $3,940,622.45. Following the transaction, the chief executive officer owned 3,138 shares of the company's stock, valued at $695,286.66. This represents a 85.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,864,716 shares of company stock valued at $2,486,013,854. 10.80% of the stock is currently owned by insiders.

Amazon.com Stock Up 1.7%

Shares of NASDAQ:AMZN opened at $220.07 on Tuesday. The business's 50 day simple moving average is $226.10 and its two-hundred day simple moving average is $212.16. The firm has a market cap of $2.35 trillion, a P/E ratio of 33.55, a PEG ratio of 1.43 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. Amazon.com has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.

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