SCS Capital Management LLC Sells 14,121 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

SCS Capital Management LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 311,004 shares of the e-commerce giant's stock after selling 14,121 shares during the quarter. Amazon.com comprises 1.4% of SCS Capital Management LLC's holdings, making the stock its 17th largest holding. SCS Capital Management LLC's holdings in Amazon.com were worth $68,231,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMZN. Accordant Advisory Group Inc boosted its position in shares of Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after buying an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc boosted its position 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 valued at $42,000 after buying an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC boosted its position 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 valued at $51,000 after buying an additional 45 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 5,501 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the sale, the chief executive officer now owns 505,318 shares in the company, valued at approximately $115,434,843.92. This represents a 1.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,798 shares of company stock worth $17,696,733 in the last quarter. 9.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of several research analyst reports. Stifel Nicolaus cut their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their price objective on Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Loop Capital upped their target price on Amazon.com from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Wedbush reiterated 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.09.

Amazon.com Stock Up 0.2%

Shares of NASDAQ AMZN opened at $205.59 on Monday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The firm has a fifty day moving average of $189.33 and a 200-day moving average of $208.77. The stock has a market capitalization of $2.18 trillion, a PE ratio of 37.18, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. The business 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%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS 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.

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.