McIlrath & Eck LLC Sells 1,383 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

McIlrath & Eck LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,008 shares of the e-commerce giant’s stock after selling 1,383 shares during the quarter. McIlrath & Eck LLC’s holdings in Amazon.com were worth $3,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Icon Wealth Advisors LLC lifted its holdings in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp increased its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the 3rd quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $217.76 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.29 trillion, a P/E ratio of 46.63, a P/E/G ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $149.91 and a 1-year high of $233.00. The firm has a 50-day moving average of $217.02 and a 200-day moving average of $195.74.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business posted $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. Truist Financial boosted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a report on Tuesday. Benchmark lifted their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wolfe Research increased their price target on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $245.65.

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.