Legacy Capital Group California Inc. Cuts Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Legacy Capital Group California Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,667 shares of the e-commerce giant’s stock after selling 5,776 shares during the period. Legacy Capital Group California Inc.’s holdings in Amazon.com were worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Waterfront Wealth Inc. grew its stake in Amazon.com by 4.9% during the 4th quarter. Waterfront Wealth Inc. now owns 15,534 shares of the e-commerce giant’s stock valued at $3,408,000 after acquiring an additional 731 shares in the last quarter. Suncoast Equity Management grew its stake in shares of Amazon.com by 11.9% in the 4th quarter. Suncoast Equity Management now owns 3,539 shares of the e-commerce giant’s stock valued at $776,000 after buying an additional 375 shares during the period. JMG Financial Group Ltd. grew its stake in shares of Amazon.com by 2.7% in the 4th quarter. JMG Financial Group Ltd. now owns 2,289 shares of the e-commerce giant’s stock valued at $502,000 after buying an additional 60 shares during the period. Financial Harvest LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $565,000. Finally, White Wing Wealth Management grew its stake in shares of Amazon.com by 2.4% in the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $196.21 on Friday. The business’s 50-day moving average price is $218.90 and its two-hundred day moving average price is $207.97. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The stock has a market cap of $2.08 trillion, a P/E ratio of 35.48, a PEG ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 5,501 shares of Amazon.com stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total value of $1,256,648.44. Following the transaction, the chief executive officer now owns 505,318 shares of the company’s stock, valued at $115,434,843.92. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Amazon.com from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JMP Securities restated a “market outperform” rating and issued a $285.00 price objective on shares of Amazon.com in a report on Friday, February 7th. BMO Capital Markets restated an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Phillip Securities lowered shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.65.

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.