Summerhill Capital Management lnc. Has $6.69 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Summerhill Capital Management lnc. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 36.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,175 shares of the e-commerce giant's stock after selling 20,215 shares during the quarter. Amazon.com accounts for about 9.0% of Summerhill Capital Management lnc.'s investment portfolio, making the stock its 5th largest holding. Summerhill Capital Management lnc.'s holdings in Amazon.com were worth $6,692,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC increased its holdings in shares of Amazon.com by 217.9% during the first quarter. Global Assets Advisory LLC now owns 111,389 shares of the e-commerce giant's stock valued at $20,553,000 after purchasing an additional 76,348 shares during the period. Steph & Co. increased its holdings in shares of Amazon.com by 29.9% during the first quarter. Steph & Co. now owns 378 shares of the e-commerce giant's stock valued at $72,000 after purchasing an additional 87 shares during the period. Archford Capital Strategies LLC increased its holdings in shares of Amazon.com by 13.9% during the first quarter. Archford Capital Strategies LLC now owns 50,897 shares of the e-commerce giant's stock valued at $9,684,000 after purchasing an additional 6,227 shares during the period. Edmp Inc. increased its holdings in shares of Amazon.com by 4.0% during the first quarter. Edmp Inc. now owns 8,785 shares of the e-commerce giant's stock valued at $1,671,000 after purchasing an additional 335 shares during the period. Finally, Econ Financial Services Corp acquired a new position in shares of Amazon.com during the first quarter valued at $1,480,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded up $2.25 during trading on Friday, hitting $226.13. 37,202,025 shares of the stock were exchanged, compared to its average volume of 42,024,987. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. The company's fifty day simple moving average is $212.84 and its 200-day simple moving average is $208.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS 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 return on equity of 24.14% and a net margin of 10.14%. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 733,195 shares of Amazon.com stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total value of $166,449,928.90. Following the completion of the transaction, the insider owned 894,546,706 shares in the company, valued at approximately $203,079,993,196.12. The trade was a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the transaction, the chief executive officer owned 514,550 shares of the company's stock, valued at approximately $113,231,873. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,335,232 shares of company stock worth $3,210,622,570. 9.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho decreased their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler set a $250.00 price target on Amazon.com and gave the company an "overweight" rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft decreased their price target on Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Scotiabank decreased their price target on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Finally, DA Davidson decreased their price target on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has an average rating of "Moderate Buy" and an average price target of $250.35.

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.