Primoris Wealth Advisors LLC Sells 5,803 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Primoris Wealth Advisors LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 20.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 23,100 shares of the e-commerce giant’s stock after selling 5,803 shares during the period. Amazon.com makes up 3.1% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Primoris Wealth Advisors LLC’s holdings in Amazon.com were worth $4,304,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AMZN. SilverOak Wealth Management LLC raised its holdings in Amazon.com by 0.8% in the 3rd quarter. SilverOak Wealth Management LLC now owns 7,894 shares of the e-commerce giant’s stock valued at $1,471,000 after acquiring an additional 64 shares in the last quarter. Tompkins Financial Corp increased its position in shares of Amazon.com by 4.0% during the third quarter. Tompkins Financial Corp now owns 76,557 shares of the e-commerce giant’s stock valued at $14,265,000 after purchasing an additional 2,949 shares during the period. Westchester Capital Management Inc. raised its stake in shares of Amazon.com by 1.9% in the third quarter. Westchester Capital Management Inc. now owns 36,807 shares of the e-commerce giant’s stock valued at $6,858,000 after purchasing an additional 683 shares in the last quarter. Rather & Kittrell Inc. lifted its position in Amazon.com by 10.3% in the third quarter. Rather & Kittrell Inc. now owns 1,645 shares of the e-commerce giant’s stock worth $307,000 after purchasing an additional 154 shares during the period. Finally, Bridges Investment Management Inc. lifted its position in Amazon.com by 0.4% in the third quarter. Bridges Investment Management Inc. now owns 1,619,754 shares of the e-commerce giant’s stock worth $301,809,000 after purchasing an additional 6,730 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were 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 directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMZN shares. Morgan Stanley raised their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Loop Capital upped their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm raised their target price on Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a research report on Monday. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.00.

Amazon.com Price Performance

NASDAQ:AMZN opened at $220.52 on Thursday. The company has a market cap of $2.32 trillion, a P/E ratio of 47.22, a P/E/G ratio of 1.54 and a beta of 1.16. The firm’s fifty day moving average price is $204.37 and its two-hundred day moving average price is $190.75. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. Equities analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.