Investor s Fiduciary Advisor Network LLC Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Investor s Fiduciary Advisor Network LLC reduced its stake in Amazon.com by 7.0%, selling 1,791 shares, and now holds 23,969 shares valued at approximately $4.56 million.
• Wall Street analysts maintain a largely positive outlook on Amazon, with forty-seven analysts issuing a buy rating and an average price target of $260.85.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon, totaling more than $609 million, which represents a 0.30% decrease in his holdings.

Investor s Fiduciary Advisor Network LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,969 shares of the e-commerce giant's stock after selling 1,791 shares during the quarter. Amazon.com comprises 2.2% of Investor s Fiduciary Advisor Network LLC's investment portfolio, making the stock its 8th largest holding. Investor s Fiduciary Advisor Network LLC's holdings in Amazon.com were worth $4,560,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Western Wealth Management LLC grew its holdings in shares of Amazon.com by 0.9% during the first quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant's stock worth $26,660,000 after purchasing an additional 1,297 shares in the last quarter. Momentous Wealth Management Inc. purchased a new position in shares of Amazon.com during the fourth quarter worth about $749,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Amazon.com during the first quarter worth about $514,000. Segall Bryant & Hamill LLC grew its holdings in shares of Amazon.com by 14.3% during 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 in the last quarter. Finally, Bearing Point Capital LLC purchased a new position in shares of Amazon.com during the fourth quarter worth about $12,014,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent analyst reports. Moffett Nathanson boosted their price objective on Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Morgan Stanley reissued an "overweight" rating on shares of Amazon.com in a report on Monday, July 28th. UBS Group restated a "buy" rating and issued a $271.00 target price (up previously from $249.00) on shares of Amazon.com in a research report on Monday, July 28th. BNP Paribas Exane upgraded Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price for the company in a research report on Friday, June 27th. Finally, JMP Securities restated a "market outperform" rating and issued a $285.00 target price on shares of Amazon.com in a research report on Friday. One research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $262.45.

Amazon.com Stock Down 8.3%

Shares of NASDAQ:AMZN traded down $19.36 on Friday, hitting $214.75. 122,007,379 shares of the company traded hands, compared to its average volume of 37,811,656. 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 company has a market cap of $2.28 trillion, a PE ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The stock has a 50 day simple moving average of $218.20 and a 200-day simple moving average of $209.11.

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. The business 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 24.90% and a net margin of 10.54%. The business's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $1.26 earnings per share. As a group, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 25,099,537 shares of company stock valued at $5,674,394,548. Insiders own 9.70% of the company's stock.

Amazon.com 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.