Hartline Investment Corp Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Hartline Investment Corp reduced its position in Amazon.com by 4.1%, selling 6,598 shares and owning 155,688 shares, valued at approximately $29.62 million.
• Several institutions increased their stakes in Amazon, with significant increases from 4J Wealth Management LLC (4.4%) and Avantax Planning Partners Inc. (89.8%), indicating ongoing institutional interest in the stock.
• A number of analysts have increased their price targets for Amazon.com, with HSBC raising it from $240 to $256, reflecting a positive outlook on the company's performance.

Hartline Investment Corp lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 155,688 shares of the e-commerce giant's stock after selling 6,598 shares during the period. Amazon.com accounts for 3.9% of Hartline Investment Corp's holdings, making the stock its 6th biggest position. Hartline Investment Corp's holdings in Amazon.com were worth $29,621,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. FMR LLC grew its position in Amazon.com by 0.5% in the fourth quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock valued at $72,061,766,000 after acquiring an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC grew its position in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after acquiring an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after acquiring an additional 4,087,933 shares during the last quarter. Finally, Norges Bank bought a new position in Amazon.com in the fourth quarter valued at about $27,266,582,000. Institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $19.36 on Friday, hitting $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 44,843,602. The company has a 50-day simple moving average of $217.93 and a 200 day simple moving average of $209.23. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.28 trillion, a PE ratio of 34.98, a PEG ratio of 1.71 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 (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.26 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. Company insiders own 9.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMZN shares. Royal Bank Of Canada boosted their price target on Amazon.com from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $265.00 price target on shares of Amazon.com in a research note on Friday. The Goldman Sachs Group reissued a "buy" rating on shares of Amazon.com in a research note on Friday. Mizuho dropped their price target on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $280.00 price target on shares of Amazon.com in a research note on Friday. Three research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $260.85.

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.