CMG Global Holdings LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

CMG Global Holdings LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,442 shares of the e-commerce giant’s stock after selling 1,005 shares during the quarter. Amazon.com comprises 2.8% of CMG Global Holdings LLC’s holdings, making the stock its 8th biggest position. CMG Global Holdings LLC’s holdings in Amazon.com were worth $5,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Accordant Advisory Group Inc grew its stake in shares of Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Icon Wealth Advisors LLC grew its stake in shares of Amazon.com by 20.5% in 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 during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC acquired a new position in shares of Amazon.com in the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $216.58 on Friday. The stock has a market cap of $2.30 trillion, a P/E ratio of 39.16, a PEG ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a fifty day moving average price of $227.88 and a 200 day moving average price of $203.96. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,852 shares of company stock valued at $9,324,151 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMZN shares. Piper Sandler reaffirmed an “overweight” rating and issued a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Barclays lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Susquehanna lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada lifted their target price on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Two research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $260.74.

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.