Heron Bay Capital Management Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Heron Bay Capital Management cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,585 shares of the e-commerce giant’s stock after selling 878 shares during the quarter. Amazon.com makes up about 3.2% of Heron Bay Capital Management’s portfolio, making the stock its 10th largest position. Heron Bay Capital Management’s holdings in Amazon.com were worth $15,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AMZN. Garrison Point Advisors LLC boosted its position in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after acquiring an additional 55 shares during the period. Meridian Investment Counsel Inc. boosted its position in shares of Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after acquiring an additional 55 shares during the period. Ridgecrest Wealth Partners LLC boosted its position in shares of Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. boosted its position in shares of Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after acquiring an additional 56 shares during the period. Finally, Lutz Financial Services LLC boosted its position in shares of Amazon.com by 1.9% in the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after acquiring an additional 57 shares during the period. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their price objective on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. DA Davidson restated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Pivotal Research assumed coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the sale, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,355 shares of company stock worth $9,877,423. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $189.07 on Tuesday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The stock has a market cap of $1.97 trillion, a P/E ratio of 52.96, a price-to-earnings-growth ratio of 1.38 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 firm’s fifty day simple moving average is $182.43 and its 200 day simple moving average is $183.50.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, research analysts predict that Amazon.com, Inc. will post 4.85 EPS 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.