Amazon.com, Inc. (NASDAQ:AMZN) Position Trimmed by Elite Wealth Management Inc.

Elite Wealth Management Inc. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,761 shares of the e-commerce giant’s stock after selling 157 shares during the period. Amazon.com accounts for about 1.4% of Elite Wealth Management Inc.’s portfolio, making the stock its 4th largest holding. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $43,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Grassi Investment Management lifted its holdings in Amazon.com by 8.8% in the 1st quarter. Grassi Investment Management now owns 68,370 shares of the e-commerce giant’s stock valued at $12,333,000 after purchasing an additional 5,535 shares in the last quarter. Grandview Asset Management LLC raised its position in shares of Amazon.com by 2.5% in the first quarter. Grandview Asset Management LLC now owns 28,352 shares of the e-commerce giant’s stock valued at $5,114,000 after buying an additional 686 shares during the last quarter. Lantz Financial LLC lifted its stake in shares of Amazon.com by 0.5% in the first quarter. Lantz Financial LLC now owns 27,947 shares of the e-commerce giant’s stock worth $5,041,000 after buying an additional 128 shares in the last quarter. KMG Fiduciary Partners LLC boosted its position in Amazon.com by 0.8% during the first quarter. KMG Fiduciary Partners LLC now owns 170,616 shares of the e-commerce giant’s stock worth $30,776,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Compass Financial Group INC SD grew its stake in Amazon.com by 4.0% during the 1st quarter. Compass Financial Group INC SD now owns 3,054 shares of the e-commerce giant’s stock valued at $551,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMZN. Stifel Nicolaus decreased their target price on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Piper Sandler reduced their price objective on Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen boosted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group cut their target price on Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America reduced their price target on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Two investment 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Up 0.8 %

Shares of NASDAQ:AMZN opened at $188.99 on Monday. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The firm’s 50 day moving average price is $181.98 and its 200 day moving average price is $183.43. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. As a group, equities research analysts predict that Amazon.com, Inc. will post 4.85 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.