Eagle Rock Investment Company LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Eagle Rock Investment Company LLC reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 72.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,345 shares of the e-commerce giant's stock after selling 22,503 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Amazon.com were worth $1,588,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Momentous Wealth Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at about $749,000. Segall Bryant & Hamill LLC lifted its stake in Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after buying an additional 39,696 shares in the last quarter. Bearing Point Capital LLC purchased a new position in Amazon.com in the 4th quarter worth approximately $12,014,000. Evergreen Capital Management LLC lifted its stake in Amazon.com by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock worth $53,213,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Amazon.com by 173.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock worth $759,434,000 after purchasing an additional 2,196,353 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In other news, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,211,799.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer now directly owns 2,148,694 shares of the company's stock, valued at approximately $432,532,102.20. This trade represents a 0.92% 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMZN shares. UBS Group reissued a "buy" rating on shares of Amazon.com in a research note on Tuesday, May 6th. Raymond James Financial reissued an "outperform" rating and issued a $195.00 target price (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and issued a $220.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Stifel Nicolaus decreased their target price on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada decreased their target price on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $244.89.

Amazon.com Stock Performance

Shares of AMZN stock opened at $212.52 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The stock has a market capitalization of $2.26 trillion, a PE ratio of 34.61, a P/E/G ratio of 1.63 and a beta of 1.33. The firm has a 50 day moving average of $197.28 and a two-hundred day moving average of $209.32.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $154.96 billion. During the same quarter last year, the company posted $0.98 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.