M3 Advisory Group LLC Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

M3 Advisory Group LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,375 shares of the e-commerce giant's stock after selling 1,920 shares during the quarter. Amazon.com makes up about 1.4% of M3 Advisory Group LLC's investment portfolio, making the stock its 17th largest position. M3 Advisory Group LLC's holdings in Amazon.com were worth $1,784,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Momentous Wealth Management Inc. bought a new position in Amazon.com during the fourth quarter valued at $749,000. Segall Bryant & Hamill LLC lifted its position in shares of Amazon.com by 14.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after buying an additional 39,696 shares in the last quarter. Bearing Point Capital LLC purchased a new position in shares of Amazon.com during the 4th quarter valued at approximately $12,014,000. Evergreen Capital Management LLC lifted its holdings in Amazon.com by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock valued at $53,213,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Amazon.com by 173.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock valued at $759,434,000 after purchasing an additional 2,196,353 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Up 1.2%

AMZN opened at $225.02 on Monday. The business's fifty day simple moving average is $209.90 and its 200 day simple moving average is $208.36. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm has a market cap of $2.39 trillion, a P/E ratio of 36.65, a PEG ratio of 1.69 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 (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm'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 posted $0.98 earnings per share. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the transaction, the chief executive officer directly owned 2,148,694 shares of the company's stock, valued at approximately $432,532,102.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP David Zapolsky sold 13,570 shares of the company'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 transaction, the senior vice president directly owned 47,030 shares in the company, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,886,613 shares of company stock worth $1,531,840,610 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Westpark Capital reiterated a "buy" rating and set a $280.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Wedbush reissued an "outperform" rating and set a $235.00 price objective (up from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Cantor Fitzgerald boosted their target price on Amazon.com from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.42.

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.

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