Summit Financial Strategies Inc. Sells 86 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Summit Financial Strategies Inc. cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,735 shares of the e-commerce giant’s stock after selling 86 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Amazon.com were worth $1,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the third quarter worth $45,000. Values First Advisors Inc. acquired a new position in shares of Amazon.com during the third quarter worth $56,000. Finally, Harbor Investment Advisory LLC lifted its stake in shares of Amazon.com by 1.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 301,946 shares of the e-commerce giant’s stock valued at $66,000 after acquiring an additional 3,055 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent research reports. Oppenheimer upped their target price on Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $270.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Citigroup reduced their target price on shares of Amazon.com from $275.00 to $273.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group raised their price target on shares of Amazon.com from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Rosenblatt Securities boosted their price objective on shares of Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.74.

Amazon.com Price Performance

AMZN opened at $228.68 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm’s fifty day moving average price is $228.21 and its two-hundred day moving average price is $202.30. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 41.35, a P/E/G ratio of 1.36 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. As a group, analysts anticipate that Amazon.com, Inc. will post 6.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction dated Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,848 shares of company stock valued at $11,368,639. 10.80% of the stock is owned by insiders.

Amazon.com Company 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.