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Edge Financial Advisors LLC Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

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Edge Financial Advisors LLC decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 46.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,012 shares of the e-commerce giant's stock after selling 1,761 shares during the quarter. Edge Financial Advisors LLC's holdings in Amazon.com were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AMZN. Bfsg LLC grew its holdings in Amazon.com by 3.1% in the first quarter. Bfsg LLC now owns 46,672 shares of the e-commerce giant's stock valued at $8,880,000 after purchasing an additional 1,388 shares during the period. Lesa Sroufe & Co acquired a new stake in Amazon.com in the first quarter valued at approximately $443,000. Halbert Hargrove Global Advisors LLC grew its holdings in Amazon.com by 70.2% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 417 shares of the e-commerce giant's stock valued at $79,000 after purchasing an additional 172 shares during the period. Cultivar Capital Inc. acquired a new stake in Amazon.com in the first quarter valued at approximately $240,000. Finally, Lynch & Associates IN grew its holdings in Amazon.com by 1.0% in the first quarter. Lynch & Associates IN now owns 21,413 shares of the e-commerce giant's stock valued at $4,074,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMZN. Telsey Advisory Group reissued an "outperform" rating and issued a $235.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. JMP Securities restated a "market outperform" rating on shares of Amazon.com in a research report on Tuesday, May 6th. BNP Paribas upgraded Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Scotiabank decreased their target price on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Finally, Bank of America raised their target price on Amazon.com from $230.00 to $248.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.41.

Get Our Latest Report on Amazon.com

Amazon.com Stock Down 1.8%

AMZN traded down $4.11 on Tuesday, hitting $219.36. 45,579,231 shares of the company were exchanged, compared to its average volume of 42,053,977. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a market cap of $2.33 trillion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $207.80 and a two-hundred day moving average price of $208.58.

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

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 13,570 shares of Amazon.com stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the sale, the senior vice president directly owned 47,030 shares of the company's stock, valued at $9,519,342.30. The trade was a 22.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares of the company's stock, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,401,408 shares of company stock worth $1,423,159,137 over the last three months. Company insiders own 10.80% of the company's stock.

Amazon.com Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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