Principle Wealth Partners LLC Sells 5,602 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Principle Wealth Partners LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,783 shares of the e-commerce giant’s stock after selling 5,602 shares during the period. Amazon.com makes up about 2.3% of Principle Wealth Partners LLC’s portfolio, making the stock its 8th largest holding. Principle Wealth Partners LLC’s holdings in Amazon.com were worth $33,080,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Accordant Advisory Group Inc grew its position in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Quattro Financial Advisors LLC lifted its stake in Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter valued at about $45,000. Iron Horse Wealth Management LLC lifted its stake in Amazon.com by 64.4% in the 4th quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock valued at $63,000 after buying an additional 112 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the 3rd quarter valued at about $56,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMZN shares. Benchmark raised their price target on shares of Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Scotiabank raised their price target on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Oppenheimer raised their price target on shares of Amazon.com from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Roth Mkm raised their price target on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $260.65.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com 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 of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction on Monday, February 24th. The stock was sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the sale, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,649 shares of company stock worth $23,871,905 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $199.25 on Friday. The company has a fifty day simple moving average of $224.11 and a two-hundred day simple moving average of $206.80. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.