Ballast Inc. Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Ballast Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,199 shares of the e-commerce giant’s stock after selling 365 shares during the period. Amazon.com makes up about 1.0% of Ballast Inc.’s holdings, making the stock its 19th largest position. Ballast Inc.’s holdings in Amazon.com were worth $3,335,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AMZN. Cambridge Advisors Inc. lifted its position in shares of Amazon.com by 4.2% during the 4th quarter. Cambridge Advisors Inc. now owns 4,951 shares of the e-commerce giant’s stock valued at $1,086,000 after acquiring an additional 201 shares during the period. Bernardo Wealth Planning LLC raised its position in shares of Amazon.com by 2.1% during the 4th quarter. Bernardo Wealth Planning LLC now owns 17,238 shares of the e-commerce giant’s stock worth $3,774,000 after purchasing an additional 355 shares during the last quarter. My Legacy Advisors LLC raised its position in shares of Amazon.com by 6.5% during the 4th quarter. My Legacy Advisors LLC now owns 21,393 shares of the e-commerce giant’s stock worth $4,778,000 after purchasing an additional 1,299 shares during the last quarter. Maiden Cove Capital LLC raised its position in shares of Amazon.com by 2.2% during the 4th quarter. Maiden Cove Capital LLC now owns 4,044 shares of the e-commerce giant’s stock worth $887,000 after purchasing an additional 86 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of Amazon.com by 4.7% during the 4th quarter. Artemis Investment Management LLP now owns 1,168,573 shares of the e-commerce giant’s stock worth $256,373,000 after purchasing an additional 52,447 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMZN has been the subject of several research reports. Telsey Advisory Group restated an “outperform” rating and set a $275.00 price objective on shares of Amazon.com in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James boosted their price target on Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Bank of America boosted their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $251.44.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,027,340 shares of company stock worth $1,252,456,773 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.1 %

Amazon.com stock opened at $237.42 on Tuesday. The firm has a 50 day simple moving average of $223.83 and a 200-day simple moving average of $198.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market capitalization of $2.50 trillion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $241.77.

Amazon.com 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.