Janney Capital Management LLC Sells 22,411 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Janney Capital Management LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,350 shares of the e-commerce giant's stock after selling 22,411 shares during the period. Janney Capital Management LLC's holdings in Amazon.com were worth $10,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Montz Harcus Wealth Management LLC raised its stake in shares of Amazon.com by 9.7% in the 1st quarter. Montz Harcus Wealth Management LLC now owns 24,318 shares of the e-commerce giant's stock valued at $4,627,000 after purchasing an additional 2,150 shares during the period. MGO Private Wealth LLC raised its stake in shares of Amazon.com by 1.9% in the 1st quarter. MGO Private Wealth LLC now owns 11,884 shares of the e-commerce giant's stock valued at $2,261,000 after purchasing an additional 217 shares during the period. Institute for Wealth Management LLC. raised its stake in shares of Amazon.com by 5.9% in the 1st quarter. Institute for Wealth Management LLC. now owns 96,706 shares of the e-commerce giant's stock valued at $18,399,000 after purchasing an additional 5,365 shares during the period. Centennial Wealth Advisory LLC raised its stake in shares of Amazon.com by 9.5% in the 1st quarter. Centennial Wealth Advisory LLC now owns 6,433 shares of the e-commerce giant's stock valued at $1,224,000 after purchasing an additional 556 shares during the period. Finally, Bigelow Investment Advisors LLC raised its stake in shares of Amazon.com by 2.2% in the 1st quarter. Bigelow Investment Advisors LLC now owns 11,140 shares of the e-commerce giant's stock valued at $2,119,000 after purchasing an additional 238 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMZN. The Goldman Sachs Group dropped their price target on Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Moffett Nathanson lifted their target price on Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Truist Financial lifted their target price on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $235.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their target price on Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $246.41.

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the sale, the vice president directly owned 119,780 shares in the company, valued at $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,046,582 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $223.92, for a total value of $458,270,641.44. Following the completion of the sale, the insider owned 902,480,530 shares of the company's stock, valued at $202,083,440,277.60. The trade was a 0.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,401,408 shares of company stock valued at $1,423,159,137 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded up $3.18 during trading on Wednesday, hitting $222.54. 38,059,198 shares of the company were exchanged, compared to its average volume of 42,038,088. The business's 50 day moving average is $207.80 and its 200-day moving average is $208.58. The company has a market capitalization of $2.36 trillion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. 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 1-year low of $151.61 and a 1-year high of $242.52.

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

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.