Edge Wealth Management LLC Sells 605 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Edge Wealth Management LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,878 shares of the e-commerce giant’s stock after selling 605 shares during the quarter. Amazon.com accounts for about 0.8% of Edge Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Edge Wealth Management LLC’s holdings in Amazon.com were worth $4,142,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after acquiring an additional 6,545,944 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Amazon.com by 3.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after acquiring an additional 1,984,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMZN shares. Truist Financial raised their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price objective on Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Stifel Nicolaus boosted their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price target on shares of Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $249.46.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $237.07 on Thursday. The company has a 50-day simple moving average of $221.62 and a two-hundred day simple moving average of $198.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $241.77. The company has a market capitalization of $2.49 trillion, a PE ratio of 50.76, a P/E/G ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results 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. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Research analysts expect that Amazon.com, Inc. will post 5.39 EPS for the current fiscal 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.