Legacy Financial Group LLC Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Legacy Financial Group LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,454 shares of the e-commerce giant's stock after selling 1,303 shares during the quarter. Legacy Financial Group LLC's holdings in Amazon.com were worth $2,750,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cable Hill Partners LLC lifted its position in shares of Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after buying an additional 44 shares during the last quarter. Quattro Financial Advisors LLC lifted its holdings in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. Northern Capital Management Inc. boosted its position in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after purchasing an additional 45 shares during the period. White Wing Wealth Management increased its holdings in shares of Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after purchasing an additional 47 shares during the last quarter. Finally, Balanced Wealth Group LLC increased its holdings in shares of Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock valued at $705,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMZN shares. Stifel Nicolaus reduced their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. UBS Group restated a "buy" rating on shares of Amazon.com in a research note on Tuesday, May 6th. Royal Bank of Canada lowered their price objective 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. Raymond James reissued an "outperform" rating and set a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Finally, Oppenheimer decreased their price target on shares of Amazon.com from $260.00 to $220.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $244.89.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $204.98, for a total transaction of $512,450.00. Following the sale, the chief executive officer now directly owns 517,050 shares of the company's stock, valued at approximately $105,984,909. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 13,570 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total value of $2,746,703.70. Following the completion of the sale, the senior vice president now owns 47,030 shares in the company, valued at approximately $9,519,342.30. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,037 shares of company stock worth $20,531,075. 9.70% of the stock is owned by company insiders.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $212.10 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market cap of $2.25 trillion, a PE ratio of 38.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. The company has a 50-day simple moving average of $195.47 and a 200-day simple moving average of $209.18. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

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, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate 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.

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.