Balentine LLC Sells 131,215 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Balentine LLC cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 94.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,040 shares of the e-commerce giant’s stock after selling 131,215 shares during the period. Balentine LLC’s holdings in Amazon.com were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Collective Family Office LLC lifted its stake in Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after purchasing an additional 819 shares in the last quarter. Phillips Wealth Planners LLC lifted its position in shares of Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares in the last quarter. Bayesian Capital Management LP bought a new position in Amazon.com during the fourth quarter valued at approximately $5,926,000. Stonekeep Investments LLC purchased a new position in Amazon.com during the 2nd quarter valued at approximately $2,588,000. Finally, Concord Investment Counsel Inc. bought a new stake in Amazon.com in the 1st quarter worth approximately $20,790,000. 72.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is owned by insiders.

Amazon.com Trading Up 0.8 %

AMZN opened at $186.65 on Friday. The business has a fifty day moving average price of $179.11 and a 200 day moving average price of $183.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 52.28, a PEG ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Sell-side analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on AMZN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. Truist Financial upped their price objective on Amazon.com from $230.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. Jefferies Financial Group reduced their price objective on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, TD Securities increased their target price on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.67.

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.