Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 51.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,249 shares of the e-commerce giant's stock after selling 25,294 shares during the quarter. Amazon.com comprises 0.9% of Secure Asset Management LLC's portfolio, making the stock its 18th biggest holding. Secure Asset Management LLC's holdings in Amazon.com were worth $4,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Long Run Wealth Advisors LLC grew its holdings in Amazon.com by 23.1% during the 1st quarter. Long Run Wealth Advisors LLC now owns 20,284 shares of the e-commerce giant's stock valued at $3,859,000 after buying an additional 3,810 shares in the last quarter. TruWealth Advisors LLC boosted its holdings in shares of Amazon.com by 0.6% in the 1st quarter. TruWealth Advisors LLC now owns 177,481 shares of the e-commerce giant's stock worth $33,768,000 after purchasing an additional 1,126 shares during the period. Veracity Capital LLC boosted its holdings in shares of Amazon.com by 0.3% in the 1st quarter. Veracity Capital LLC now owns 21,493 shares of the e-commerce giant's stock worth $4,089,000 after purchasing an additional 63 shares during the period. Sendero Wealth Management LLC boosted its holdings in shares of Amazon.com by 13.7% in the 1st quarter. Sendero Wealth Management LLC now owns 103,552 shares of the e-commerce giant's stock worth $19,702,000 after purchasing an additional 12,445 shares during the period. Finally, Freedom Financial Partners LLC boosted its holdings in shares of Amazon.com by 3.5% in the 1st quarter. Freedom Financial Partners LLC now owns 7,239 shares of the e-commerce giant's stock worth $1,377,000 after purchasing an additional 244 shares during the period. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMZN. Truist Financial dropped their target price on Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Citizens Jmp dropped their price objective on Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Jefferies Financial Group dropped their price objective on Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen cut Amazon.com from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.89.

Amazon.com Stock Performance

Shares of AMZN traded down $2.30 during mid-day trading on Wednesday, reaching $212.52. The company had a trading volume of 44,246,577 shares, compared to its average volume of 42,160,574. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.26 trillion, a P/E ratio of 35.16, a PEG ratio of 1.63 and a beta of 1.33. The stock has a 50 day moving average of $196.86 and a two-hundred day moving average of $209.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. On average, analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at approximately $95,776,017.26. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the transaction, the vice president now owns 119,780 shares of the company's stock, valued at $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by insiders.

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.