Free Trial

Synergy Asset Management LLC Sells 2,958 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com logo with Retail/Wholesale background

Synergy Asset Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,946 shares of the e-commerce giant's stock after selling 2,958 shares during the period. Amazon.com accounts for about 3.7% of Synergy Asset Management LLC's portfolio, making the stock its 6th largest position. Synergy Asset Management LLC's holdings in Amazon.com were worth $29,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMZN. Cable Hill Partners LLC lifted its stake in Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after acquiring an additional 44 shares in the last quarter. Northern Capital Management Inc. lifted its stake in Amazon.com by 0.6% in the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after acquiring an additional 45 shares in the last quarter. White Wing Wealth Management lifted its stake in Amazon.com by 2.4% in the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after acquiring an additional 47 shares in the last quarter. Balanced Wealth Group LLC increased its position in shares of Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock valued at $705,000 after acquiring an additional 48 shares during the last quarter. Finally, ETF Store Inc. raised its holdings in Amazon.com by 2.1% during the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock worth $522,000 after acquiring an additional 48 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 384,124 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $224.02, for a total value of $86,051,458.48. Following the sale, the insider owned 901,995,325 shares in the company, valued at $202,064,992,706.50. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,886,613 shares of company stock worth $1,531,840,610. Corporate insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AMZN shares. Westpark Capital reiterated a "buy" rating and set a $280.00 target price on shares of Amazon.com in a report on Friday, May 2nd. BNP Paribas upgraded Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Moffett Nathanson upped their price objective on Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. BNP Paribas Exane upgraded 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. Finally, Wells Fargo & Company upped their target price on shares of Amazon.com from $201.00 to $238.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of "Moderate Buy" and a consensus target price of $249.42.

Get Our Latest Stock Analysis on AMZN

Amazon.com Price Performance

Shares of NASDAQ AMZN traded up $0.71 during mid-day trading on Tuesday, reaching $226.40. The company had a trading volume of 24,864,427 shares, compared to its average volume of 42,045,547. 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, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 36.89, a PEG ratio of 1.69 and a beta of 1.33. The business's 50-day simple moving average is $210.69 and its 200 day simple moving average is $208.38.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $154.96 billion. During the same period last year, the firm posted $0.98 earnings per share. Amazon.com's revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

Should You Invest $1,000 in Amazon.com Right Now?

Before you consider Amazon.com, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amazon.com wasn't on the list.

While Amazon.com currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Magnificent 7 Stocks Shift Toward Stability and Selective Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines