Pekin Hardy Strauss Inc. Sells 2,569 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Pekin Hardy Strauss Inc. has decreased its stake in Amazon.com, Inc. by 9.5%, selling 2,569 shares and retaining 24,390 shares valued at approximately $4.64 million.
• Insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon, representing a 0.47% decrease in his holdings, with total insider sales in the last 90 days amounting to over $5.67 billion.
• Wall Street analysts maintain a consensus rating of "Buy" for Amazon, with price objectives from various firms ranging from $250.00 to $285.00.

Pekin Hardy Strauss Inc. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,390 shares of the e-commerce giant's stock after selling 2,569 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Amazon.com were worth $4,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AMZN. Western Wealth Management LLC increased its stake in Amazon.com by 0.9% in the 1st 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 Amazon.com in the 4th quarter worth about $749,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Amazon.com in the 1st quarter worth about $514,000. Segall Bryant & Hamill LLC increased its stake in Amazon.com by 14.3% in the 4th 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 Amazon.com in the 4th quarter worth about $12,014,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMZN. JMP Securities reiterated a "market outperform" rating and issued a $285.00 target price on shares of Amazon.com in a report on Friday. Stifel Nicolaus upped their target price on Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Moffett Nathanson upped their target price on Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Oppenheimer dropped their target price on Amazon.com from $250.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Amazon.com from $255.00 to $265.00 and gave the company an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average 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 during mid-day trading on Friday, reaching $214.75. 122,007,379 shares of the company's stock were exchanged, compared to its average volume of 43,924,596. The firm has a market capitalization of $2.28 trillion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.57 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $218.20 and a 200 day simple moving average of $209.11. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same period last year, the company earned $1.26 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 25,099,537 shares of company stock valued at $5,674,394,548. Insiders own 10.80% of the company's stock.

Amazon.com Company 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.