Cherry Creek Investment Advisors Inc. Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Cherry Creek Investment Advisors Inc. lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,302 shares of the e-commerce giant’s stock after selling 1,793 shares during the period. Amazon.com accounts for about 6.6% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 2nd biggest position. Cherry Creek Investment Advisors Inc.’s holdings in Amazon.com were worth $13,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lebenthal Global Advisors LLC boosted its holdings in Amazon.com by 6.8% in the fourth quarter. Lebenthal Global Advisors LLC now owns 11,433 shares of the e-commerce giant’s stock worth $2,508,000 after acquiring an additional 732 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Amazon.com by 15.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 212,522 shares of the e-commerce giant’s stock worth $46,625,000 after purchasing an additional 27,928 shares during the last quarter. Main Line Retirement Advisors LLC purchased a new stake in shares of Amazon.com in the fourth quarter worth approximately $230,000. Parsons Capital Management Inc. RI raised its stake in shares of Amazon.com by 23.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 288,451 shares of the e-commerce giant’s stock worth $63,283,000 after purchasing an additional 55,186 shares during the last quarter. Finally, Heirloom Wealth Management raised its stake in shares of Amazon.com by 3.4% in the fourth quarter. Heirloom Wealth Management now owns 1,803 shares of the e-commerce giant’s stock worth $396,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMZN shares. Raymond James increased their price objective on Amazon.com from $260.00 to $275.00 in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company lowered their price objective on Amazon.com from $212.00 to $207.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Wedbush reissued an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Finally, TD Cowen increased their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $260.74.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,848 shares of company stock worth $11,368,639 in the last quarter. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of AMZN opened at $228.68 on Monday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm’s 50 day moving average price is $228.21 and its 200 day moving average price is $202.44. The company has a market cap of $2.42 trillion, a P/E ratio of 41.35, a PEG ratio of 1.36 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its 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 net margin of 9.29% and a return on equity of 25.49%. On average, research analysts forecast that Amazon.com, Inc. will post 6.24 earnings per share for the current fiscal year.

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.