Palestra Capital Management LLC Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Palestra Capital Management LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 28.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 408,896 shares of the e-commerce giant's stock after selling 166,419 shares during the period. Amazon.com makes up approximately 2.5% of Palestra Capital Management LLC's investment portfolio, making the stock its 21st largest position. Palestra Capital Management LLC's holdings in Amazon.com were worth $89,708,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc grew its stake in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the fourth quarter worth $27,000. LSV Asset Management acquired a new position in shares of Amazon.com during the fourth quarter worth $35,000. Perritt Capital Management Inc grew its stake in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Quattro Financial Advisors LLC grew its stake in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $10,933,860. The trade was a 22.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,081 shares of company stock worth $17,421,044 in the last quarter. 9.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Amazon.com from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Cantor Fitzgerald boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wedbush reiterated an "outperform" rating and set a $235.00 target price (up previously from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Scotiabank lowered their target price on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Finally, DA Davidson lowered their target price on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $244.09.

Amazon.com Stock Down 1.4%

Shares of NASDAQ AMZN opened at $201.12 on Thursday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm's 50 day moving average price is $189.74 and its 200 day moving average price is $208.74. The firm has a market cap of $2.14 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

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 for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.

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