ELCO Management Co. LLC Sells 3,134 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

ELCO Management Co. LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,301 shares of the e-commerce giant's stock after selling 3,134 shares during the period. Amazon.com comprises approximately 3.1% of ELCO Management Co. LLC's holdings, making the stock its 6th biggest position. ELCO Management Co. LLC's holdings in Amazon.com were worth $5,575,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Western Wealth Management LLC grew its holdings in Amazon.com by 0.9% during the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock valued at $26,660,000 after buying an additional 1,297 shares in the last quarter. Momentous Wealth Management Inc. purchased a new stake in Amazon.com during the 4th quarter valued at approximately $749,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Amazon.com during the 1st quarter valued at approximately $514,000. Segall Bryant & Hamill LLC increased its position in Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares during the last quarter. Finally, Bearing Point Capital LLC bought a new stake in Amazon.com in the fourth quarter worth $12,014,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

AMZN traded up $3.01 on Wednesday, hitting $224.48. 27,688,120 shares of the company's stock were exchanged, compared to its average volume of 44,812,195. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $220.25 and a 200-day moving average price of $208.61. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 1.49 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its 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. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The firm's quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Monness Crespi & Hardt boosted their price target on shares of Amazon.com from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Susquehanna upped their price target on shares of Amazon.com from $225.00 to $260.00 and gave the stock a "positive" rating in a report on Friday, August 1st. 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. HSBC increased their target price on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Finally, Cantor Fitzgerald increased their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Amazon.com presently has an average rating of "Buy" and a consensus target price of $262.45.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the transaction, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,101,037 shares of company stock worth $5,674,726,368. 10.80% of the stock is currently owned by corporate insiders.

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.