Cullinan Associates Inc. Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cullinan Associates Inc. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,393 shares of the e-commerce giant's stock after selling 7,451 shares during the quarter. Amazon.com makes up about 1.7% of Cullinan Associates Inc.'s portfolio, making the stock its 13th biggest position. Cullinan Associates Inc.'s holdings in Amazon.com were worth $24,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in shares of Amazon.com during the 4th quarter valued at about $800,000. Capital & Planning LLC raised its stake in shares of Amazon.com by 72.1% during the 4th quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock valued at $856,000 after buying an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC raised its stake in shares of Amazon.com by 1.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock valued at $10,839,000 after buying an additional 860 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after buying an additional 397,007 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Amazon.com during the 4th quarter valued at about $301,650,000. Institutional investors own 72.20% of the company's stock.

Insiders Place Their Bets

In other news, VP Shelley Reynolds sold 2,695 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the transaction, the vice president owned 119,780 shares of the company's stock, valued at $24,050,626.20. This represents a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 384,124 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $224.02, for a total transaction of $86,051,458.48. Following the completion of the sale, the insider directly owned 901,995,325 shares in the company, valued at $202,064,992,706.50. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,886,613 shares of company stock worth $1,531,840,610 over the last ninety days. Company insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMZN. Evercore ISI cut their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. BNP Paribas Exane upgraded Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price target for the company in a research note on Friday, June 27th. Roth Capital set a $250.00 price target on Amazon.com and gave the company a "buy" rating in a research note on Tuesday. Mizuho cut their price target on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Oppenheimer lifted their price target on Amazon.com from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Three investment analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $249.42.

Amazon.com Price Performance

NASDAQ:AMZN traded up $2.76 during trading hours on Friday, reaching $225.02. 50,481,094 shares of the company traded hands, compared to its average volume of 42,098,870. The firm's 50-day moving average is $209.20 and its 200-day moving average is $208.66. The stock has a market cap of $2.39 trillion, a P/E ratio of 36.65, a P/E/G ratio of 1.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. 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 announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The firm 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%. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. Equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

About Amazon.com

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.