Sunbelt Securities Inc. Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Sunbelt Securities Inc. decreased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,522 shares of the e-commerce giant’s stock after selling 4,687 shares during the period. Amazon.com makes up approximately 1.7% of Sunbelt Securities Inc.’s holdings, making the stock its 8th biggest position. Sunbelt Securities Inc.’s holdings in Amazon.com were worth $15,066,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cooksen Wealth LLC acquired a new stake in Amazon.com in the 4th quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. grew 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 purchasing an additional 86 shares in the last quarter. Strid Group LLC acquired a new position in shares of Amazon.com during the fourth quarter valued at $43,000. Harbor Investment Advisory LLC raised its stake in shares of Amazon.com by 0.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 1,988 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Amazon.com in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN opened at $193.25 on Monday. The stock has a 50-day moving average of $183.87 and a 200-day moving average of $173.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $199.84. The company has a market cap of $2.01 trillion, a PE ratio of 54.13, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14.

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

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Amazon.com from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Monness Crespi & Hardt upped their target price on Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. BMO Capital Markets lifted their price target on Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Evercore ISI upped their price objective on Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Truist Financial lifted their target price on Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $215.86.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 5,264 shares of Amazon.com stock in a transaction dated 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 transaction, the director now directly owns 104,400 shares in the company, valued at $19,836,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 2,700 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total value of $489,753.00. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $21,726,894.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 5,264 shares of the company’s stock in a transaction dated 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 transaction, the director now directly 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 61,838 shares of company stock valued at $11,261,789 in the last quarter. Insiders own 10.80% of the company’s stock.

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.