AdvisorNet Financial Inc Sells 7,049 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

AdvisorNet Financial Inc lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,336 shares of the e-commerce giant’s stock after selling 7,049 shares during the quarter. AdvisorNet Financial Inc’s holdings in Amazon.com were worth $6,194,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMZN. Collective Family Office LLC grew its stake in shares of Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after acquiring an additional 819 shares in the last quarter. Members Trust Co boosted its holdings in Amazon.com by 8.9% during the fourth quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock worth $638,000 after purchasing an additional 341 shares during the last quarter. Cherrydale Wealth Management LLC grew its position in Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after purchasing an additional 675 shares in the last quarter. Tompkins Financial Corp increased its stake in Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after buying an additional 2,273 shares during the last quarter. Finally, Nicholas Company Inc. lifted its position in shares of Amazon.com by 3.9% during the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after buying an additional 26,465 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $193.61 on Thursday. The stock’s 50-day moving average is $182.88 and its 200 day moving average is $172.28. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 54.23, a P/E/G ratio of 1.33 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $194.80. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last issued its quarterly 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 business had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.31 earnings per share. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on AMZN shares. Bank of America increased their price target on Amazon.com from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on shares of Amazon.com from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Telsey Advisory Group upped their price objective on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price objective on Amazon.com from $217.00 to $234.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, DA Davidson restated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research note on Thursday, April 18th. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $215.74.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Jonathan Rubinstein sold 5,264 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the sale, the director now directly owns 104,400 shares in the company, valued at approximately $19,836,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s 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 sale, the chief executive officer now directly owns 523,253 shares in the company, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. Insiders have sold a total of 65,338 shares of company stock worth $11,894,344 in the last 90 days. 10.80% of the stock is 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.