Red Wave Investments LLC Sells 1,365 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Red Wave Investments LLC reduced its holdings in Amazon.com by 10.1%, selling 1,365 shares, which leaves it with 12,166 shares valued at approximately $2.3 million.
• Insiders, including CEO Douglas J. Herrington and Jeffrey P. Bezos, sold significant amounts of Amazon stock recently, with Bezos disposing of over 2.6 million shares, reflecting a trend of insider selling.
• Several equity analysts raised their price targets for Amazon shares, with Stifel Nicolaus now setting its target at $262.00 and the average target price among analysts reaching $262.45.

Red Wave Investments LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,166 shares of the e-commerce giant's stock after selling 1,365 shares during the quarter. Amazon.com accounts for approximately 0.8% of Red Wave Investments LLC's holdings, making the stock its 25th biggest holding. Red Wave Investments LLC's holdings in Amazon.com were worth $2,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its position in shares of Amazon.com by 3.0% during the first quarter. Sigma Planning Corp now owns 344,459 shares of the e-commerce giant's stock worth $65,537,000 after acquiring an additional 9,971 shares during the period. Catalyst Financial Partners LLC increased its holdings in Amazon.com by 10.5% during the first quarter. Catalyst Financial Partners LLC now owns 49,909 shares of the e-commerce giant's stock valued at $9,496,000 after buying an additional 4,755 shares during the period. Slow Capital Inc. increased its holdings in Amazon.com by 21.6% during the first quarter. Slow Capital Inc. now owns 151,663 shares of the e-commerce giant's stock valued at $28,855,000 after buying an additional 26,988 shares during the period. Edgestream Partners L.P. increased its holdings in Amazon.com by 16.7% during the first quarter. Edgestream Partners L.P. now owns 47,063 shares of the e-commerce giant's stock valued at $8,954,000 after buying an additional 6,725 shares during the period. Finally, Leelyn Smith LLC increased its holdings in Amazon.com by 1.1% during the first quarter. Leelyn Smith LLC now owns 59,357 shares of the e-commerce giant's stock valued at $11,293,000 after buying an additional 636 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares of the company's stock, valued at approximately $111,114,850. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,101,037 shares of company stock worth $5,674,726,368. Insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Amazon.com stock opened at $222.69 on Monday. The company's 50 day simple moving average is $219.65 and its 200-day simple moving average is $208.61. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AMZN shares. Stifel Nicolaus lifted their price objective on shares of Amazon.com from $245.00 to $262.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. HSBC raised their target price on shares of Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Rosenblatt Securities raised their target price on shares of Amazon.com from $288.00 to $297.00 and gave the company a "buy" rating in a research note on Friday, August 1st. UBS Group reiterated a "buy" rating and set a $271.00 price objective (up from $249.00) on shares of Amazon.com in a research note on Monday, July 28th. Finally, Robert W. Baird lifted their price objective on shares of Amazon.com from $220.00 to $244.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has an average rating of "Buy" and an average target price of $262.45.

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.

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