Insight Wealth Strategies LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Insight Wealth Strategies LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 27,147 shares of the e-commerce giant’s stock after selling 1,533 shares during the period. Insight Wealth Strategies LLC’s holdings in Amazon.com were worth $4,897,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock valued at $117,158,872,000 after acquiring an additional 13,134,632 shares in the last quarter. FMR LLC raised its holdings in shares of Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after acquiring an additional 21,649,871 shares in the last quarter. Norges Bank purchased a new stake in shares of Amazon.com in the 4th quarter valued at about $17,700,551,000. Northern Trust Corp raised its holdings in shares of Amazon.com by 3.7% in the 3rd quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock valued at $11,736,905,000 after acquiring an additional 3,260,411 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Amazon.com by 2.5% in the 4th quarter. Jennison Associates LLC now owns 56,371,051 shares of the e-commerce giant’s stock valued at $8,565,017,000 after acquiring an additional 1,389,503 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMZN. BMO Capital Markets raised their price target on Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Citigroup raised their price target on Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. DA Davidson reaffirmed a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a report on Thursday, April 18th. Roth Mkm reiterated a “buy” rating and set a $210.00 price objective (up from $205.00) on shares of Amazon.com in a research report on Wednesday, May 1st. Finally, Tigress Financial increased their price objective on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Buy” and an average price target of $213.82.

Insider Activity

In other news, Director Jonathan Rubinstein sold 5,264 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.00, for a total value of $1,000,160.00. Following the completion of the transaction, the director now owns 104,400 shares in the company, valued at approximately $19,836,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the transaction, the chief executive officer now owns 523,253 shares in the company, valued at $92,767,524.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 5,264 shares of Amazon.com stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total value of $1,000,160.00. Following the transaction, the director now owns 104,400 shares of the company’s stock, valued at approximately $19,836,000. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock worth $11,894,344 in the last quarter. 10.80% of the stock is owned by company insiders.

Amazon.com Trading Down 0.7 %

AMZN opened at $182.81 on Thursday. The stock has a market cap of $1.90 trillion, a PE ratio of 51.21, a PEG ratio of 1.32 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $182.78 and a 200-day moving average of $170.96. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $191.70.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities research analysts predict that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

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.