Cliftonlarsonallen Wealth Advisors LLC Lowers Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cliftonlarsonallen Wealth Advisors LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,960 shares of the e-commerce giant's stock after selling 14,116 shares during the period. Cliftonlarsonallen Wealth Advisors LLC's holdings in Amazon.com were worth $13,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Amazon.com during the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC increased its holdings in shares of Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after buying an additional 30,104,520 shares during the last quarter. Capital World Investors increased its holdings in shares of Amazon.com by 36.8% in 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. raised its position in shares of Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock worth $2,652,116,000 after acquiring an additional 12,018,120 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMZN has been the subject of several research reports. Jefferies Financial Group cut their target price on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Bank of America lifted their price target on Amazon.com from $230.00 to $248.00 and gave the stock a "buy" rating in a research note on Monday, June 2nd. Cantor Fitzgerald increased their price objective on Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Moffett Nathanson raised their price objective on Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley cut their target price on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $245.81.

Amazon.com Trading Down 1.8%

NASDAQ:AMZN opened at $219.39 on Tuesday. The company has a 50-day moving average price of $203.30 and a 200-day moving average price of $208.67. The stock has a market cap of $2.33 trillion, a price-to-earnings ratio of 35.73, a P/E/G 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 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Amazon.com's revenue was up 8.6% on a year-over-year basis. Equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity

In other news, CEO Matthew S. Garman sold 20,923 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com 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 sale, the chief financial officer owned 49,000 shares in the company, valued at $9,876,930. This represents a 26.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,537 shares of company stock worth $20,061,100. Company insiders own 10.80% 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.

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