StoneCrest Wealth Management Inc. Sells 1,600 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

StoneCrest Wealth Management Inc. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,836 shares of the e-commerce giant's stock after selling 1,600 shares during the period. Amazon.com makes up 3.5% of StoneCrest Wealth Management Inc.'s investment portfolio, making the stock its 7th largest position. StoneCrest Wealth Management Inc.'s holdings in Amazon.com were worth $5,486,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com during the fourth quarter valued at about $25,000. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new position in shares of Amazon.com during the 4th quarter worth approximately $35,000. Perritt Capital Management Inc increased its holdings in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC increased its holdings in Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now directly owns 5,465 shares in the company, valued at approximately $1,151,366.20. The trade was a 15.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares of the company's stock, valued at $95,776,017.26. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,037 shares of company stock worth $20,531,075. Company insiders own 9.70% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock traded down $2.83 during mid-day trading on Friday, hitting $209.69. The stock had a trading volume of 75,281,131 shares, compared to its average volume of 42,294,602. The firm has a market cap of $2.23 trillion, a PE ratio of 34.15, a PEG ratio of 1.61 and a beta of 1.33. The company's 50-day simple moving average is $197.91 and its 200-day simple moving average is $209.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

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

Analysts Set New Price Targets

A number of research analysts have commented on AMZN shares. Royal Bank Of Canada lowered their price target on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating on shares of Amazon.com in a report on Monday, June 2nd. Barclays cut their price target on Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, DA Davidson dropped their price objective on Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $245.53.

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.