Amazon.com, Inc. (NASDAQ:AMZN) is Highland Capital Management LLC’s 9th Largest Position

Highland Capital Management LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,301 shares of the e-commerce giant’s stock after selling 12,430 shares during the quarter. Amazon.com accounts for about 1.9% of Highland Capital Management LLC’s holdings, making the stock its 9th biggest position. Highland Capital Management LLC’s holdings in Amazon.com were worth $32,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cooksen Wealth LLC acquired a new position in Amazon.com during the fourth quarter worth $30,000. Clarity Asset Management Inc. acquired a new stake in Amazon.com in the fourth quarter valued at $46,000. Steph & Co. purchased a new stake in shares of Amazon.com during the 1st quarter worth $65,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com during the 1st quarter worth $69,000. Finally, Advantage Trust Co purchased a new position in shares of Amazon.com in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.9 %

AMZN stock opened at $184.89 on Tuesday. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 51.79, a PEG ratio of 1.39 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $179.22 and a 200-day simple moving average of $181.74.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, equities research analysts expect that Amazon.com, Inc. will post 4.86 EPS for the current year.

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Amazon.com in a report on Thursday, September 5th. They set an “overweight” rating and a $230.00 price objective on the stock. Morgan Stanley decreased their price target on Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Tigress Financial upped their price target on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. reduced their price objective on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus 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.