Parker Investment Management LLC Lowers Position in Amazon.com, Inc. (NASDAQ:AMZN)

Parker Investment Management LLC trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,861 shares of the e-commerce giant’s stock after selling 390 shares during the quarter. Amazon.com makes up about 0.1% of Parker Investment Management LLC’s portfolio, making the stock its 20th biggest holding. Parker Investment Management LLC’s holdings in Amazon.com were worth $746,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in Amazon.com by 291.8% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock valued at $4,406,000 after acquiring an additional 21,595 shares during the period. Solutions 4 Wealth Ltd purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $242,000. Bare Financial Services Inc acquired a new position in Amazon.com in the 4th quarter valued at $149,000. Horan Capital Advisors LLC. lifted its holdings in Amazon.com by 2.7% in the 4th quarter. Horan Capital Advisors LLC. now owns 7,165 shares of the e-commerce giant’s stock valued at $1,089,000 after purchasing an additional 185 shares in the last quarter. Finally, Alterna Wealth Management Inc. raised its position in shares of Amazon.com by 7.2% in the fourth quarter. Alterna Wealth Management Inc. now owns 12,912 shares of the e-commerce giant’s stock valued at $1,962,000 after buying an additional 863 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 0.9 %

Shares of AMZN opened at $191.60 on Monday. The firm’s 50-day moving average is $178.54 and its two-hundred day moving average is $182.10. The firm has a market capitalization of $1.99 trillion, a P/E ratio of 53.67, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling at Amazon.com

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

Analysts Set New Price Targets

AMZN has been the subject of a number of analyst reports. Barclays upped their price target on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. TD Securities upped their target price on Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Truist Financial lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Wedbush restated an “outperform” rating and issued a $225.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Finally, Bank of America lowered their price target on Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $222.84.

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.