Destiny Wealth Partners LLC Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Destiny Wealth Partners LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,091 shares of the e-commerce giant’s stock after selling 24,385 shares during the quarter. Amazon.com accounts for about 4.0% of Destiny Wealth Partners LLC’s investment portfolio, making the stock its 4th biggest position. Destiny Wealth Partners LLC’s holdings in Amazon.com were worth $22,048,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Collective Family Office LLC boosted its holdings in shares of Amazon.com by 9.7% in the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after purchasing an additional 819 shares during the period. Phillips Wealth Planners LLC boosted its holdings in shares of Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after purchasing an additional 224 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Amazon.com in the fourth quarter valued at approximately $5,926,000. Clearstead Trust LLC lifted its holdings in Amazon.com by 25.8% during the fourth quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock worth $9,958,000 after buying an additional 13,454 shares during the period. Finally, Summa Corp. purchased a new stake in Amazon.com during the fourth quarter worth $1,506,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 0.3 %

AMZN stock opened at $186.49 on Monday. The company’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $181.68. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The firm has a market cap of $1.94 trillion, a P/E ratio of 52.24, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, equities analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the transaction, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the transaction, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $215.00 target price on shares of Amazon.com in a report on Friday, August 2nd. UBS Group upped their target price on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Roth Mkm upped their price target on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research assumed coverage on Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and an average target price of $222.49.

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.