Wealth Effects LLC Sells 1,666 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Wealth Effects LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 58,831 shares of the e-commerce giant's stock after selling 1,666 shares during the quarter. Amazon.com makes up 4.7% of Wealth Effects LLC's portfolio, making the stock its 4th biggest position. Wealth Effects LLC's holdings in Amazon.com were worth $11,193,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tallon Kerry Patrick purchased a new position in shares of Amazon.com in the fourth quarter worth approximately $800,000. Capital & Planning LLC grew its position in Amazon.com by 72.1% in the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after acquiring an additional 1,635 shares in the last quarter. LaFleur & Godfrey LLC grew its position in Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after acquiring an additional 860 shares in the last quarter. Brighton Jones LLC grew its position in Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after acquiring an additional 397,007 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Amazon.com in the fourth quarter worth approximately $301,650,000. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business'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 completion of the sale, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Garman sold 20,923 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,335,232 shares of company stock valued at $3,210,622,570. Company insiders own 10.80% of the company's stock.

Amazon.com Stock Up 1.0%

AMZN stock traded up $2.25 during mid-day trading on Friday, hitting $226.13. 37,691,170 shares of the company were exchanged, compared to its average volume of 41,988,670. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The firm has a market cap of $2.40 trillion, a P/E ratio of 36.83, a P/E/G ratio of 1.69 and a beta of 1.33. The firm's 50 day simple moving average is $213.50 and its 200 day simple moving average is $208.51. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. The company 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 business's quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AMZN. Scotiabank decreased their target price on shares of 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. Needham & Company LLC restated a "buy" rating and issued a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Wedbush restated an "outperform" rating and issued a $235.00 price objective (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Stifel Nicolaus reduced their price objective on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and an average price target of $250.35.

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.