Strait & Sound Wealth Management LLC Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Strait & Sound Wealth Management LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,942 shares of the e-commerce giant’s stock after selling 1,038 shares during the period. Amazon.com accounts for 4.2% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 7th biggest position. Strait & Sound Wealth Management LLC’s holdings in Amazon.com were worth $8,560,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Rench Wealth Management Inc. lifted its position in shares of Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after purchasing an additional 3,703 shares during the period. Foundations Investment Advisors LLC lifted its position in shares of Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank lifted its position in shares of Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. Washington Trust Advisors Inc. lifted its position in shares of Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after purchasing an additional 982 shares during the period. Finally, Sassicaia Capital Advisers LLC purchased a new position in Amazon.com during the 3rd quarter valued at about $279,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen boosted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company boosted their price objective on shares of Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a research note on Friday, January 10th. Finally, Loop Capital boosted their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.65.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by insiders.

Amazon.com Price Performance

Amazon.com stock opened at $223.35 on Thursday. The firm has a 50-day moving average price of $217.02 and a 200-day moving average price of $195.74. The firm has a market capitalization of $2.35 trillion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12-month low of $149.91 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during 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%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS 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.