CIC Wealth LLC Sells 2,794 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CIC Wealth LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,758 shares of the e-commerce giant’s stock after selling 2,794 shares during the quarter. Amazon.com accounts for 2.4% of CIC Wealth LLC’s portfolio, making the stock its 8th largest position. CIC Wealth LLC’s holdings in Amazon.com were worth $8,254,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMZN. Cooksen Wealth LLC purchased a new stake in Amazon.com during the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Amazon.com by 45.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 86 shares during the last quarter. Strid Group LLC purchased a new stake in shares of Amazon.com in the fourth quarter worth about $43,000. Harbor Investment Advisory LLC boosted its stake in shares of Amazon.com by 0.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 1,988 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, 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 owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Amazon.com news, 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 owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total value of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares of the company’s stock, valued at $24,214,400. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock valued at $11,894,344 over the last quarter. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Moffett Nathanson restated a “buy” rating and issued a $228.00 target price on shares of Amazon.com in a research note on Thursday, April 11th. 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. Morgan Stanley upped their target price on Amazon.com from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Citigroup upped their target price on Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $205.00 price target on shares of Amazon.com in a research report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $215.86.

Amazon.com Price Performance

AMZN stock opened at $193.25 on Friday. The business has a fifty day moving average of $183.87 and a two-hundred day moving average of $173.11. 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 stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 54.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $199.84.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. As a group, research analysts anticipate that Amazon.com, Inc. will post 4.72 earnings per share for the current year.

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.