Clearline Capital LP Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Clearline Capital LP decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 234,401 shares of the e-commerce giant’s stock after selling 51,247 shares during the quarter. Amazon.com comprises approximately 1.3% of Clearline Capital LP’s holdings, making the stock its 3rd largest position. Clearline Capital LP’s holdings in Amazon.com were worth $45,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Aviso Wealth Management boosted its holdings in Amazon.com by 1.8% in the 2nd quarter. Aviso Wealth Management now owns 29,671 shares of the e-commerce giant’s stock valued at $5,734,000 after purchasing an additional 511 shares during the period. Full Sail Capital LLC raised its position in shares of Amazon.com by 1.6% during the second quarter. Full Sail Capital LLC now owns 39,462 shares of the e-commerce giant’s stock valued at $7,626,000 after buying an additional 618 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Amazon.com by 7.2% in the second quarter. Ascent Group LLC now owns 98,200 shares of the e-commerce giant’s stock valued at $18,977,000 after buying an additional 6,566 shares during the period. SkyView Investment Advisors LLC grew its position in Amazon.com by 12.6% during the second quarter. SkyView Investment Advisors LLC now owns 16,003 shares of the e-commerce giant’s stock worth $3,093,000 after buying an additional 1,787 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Amazon.com by 26.0% during the second quarter. Driehaus Capital Management LLC now owns 13,918 shares of the e-commerce giant’s stock valued at $2,690,000 after acquiring an additional 2,868 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMZN. Telsey Advisory Group reiterated an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. TD Securities lifted their price target on shares of Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Wolfe Research started coverage on shares of Amazon.com in a report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target on the stock. Sanford C. Bernstein raised their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Thursday, September 19th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,355 shares of company stock valued at $9,877,423 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Up 0.8 %

Shares of Amazon.com stock opened at $187.83 on Monday. The firm has a market cap of $1.95 trillion, a PE ratio of 52.61, a P/E/G ratio of 1.38 and a beta of 1.14. The business’s 50 day simple moving average is $183.50 and its 200 day simple moving average is $183.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20.

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, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

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.