Sunbelt Securities Inc. Sells 2,386 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Sunbelt Securities Inc. reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,937 shares of the e-commerce giant's stock after selling 2,386 shares during the period. Amazon.com accounts for approximately 1.5% of Sunbelt Securities Inc.'s holdings, making the stock its 6th biggest position. Sunbelt Securities Inc.'s holdings in Amazon.com were worth $16,921,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Amazon.com during the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC lifted its stake in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares during the last quarter. Capital World Investors lifted its stake in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $235.00 price target on shares of Amazon.com and gave the company an "outperform" rating in a report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amazon.com from $230.00 to $266.00 in a report on Tuesday. BNP Paribas Exane upgraded shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price objective on the stock in a research note on Friday, June 27th. Citigroup upped their price objective on shares of Amazon.com from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Barclays dropped their price objective on shares of Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $254.33.

Amazon.com Price Performance

NASDAQ:AMZN traded down $0.79 during mid-day trading on Friday, reaching $231.44. 28,649,591 shares of the company were exchanged, compared to its average volume of 40,402,120. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a fifty day moving average of $215.66 and a 200 day moving average of $208.91. 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 cap of $2.46 trillion, a PE ratio of 37.69, a PEG ratio of 1.72 and a beta of 1.33.

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

Insider Activity

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 25,102,037 shares of company stock valued at $5,674,871,223. 9.70% of the stock is currently owned by company insiders.

About Amazon.com

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.