Atticus Wealth Management LLC Sells 765 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Atticus Wealth Management LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,122 shares of the e-commerce giant’s stock after selling 765 shares during the quarter. Amazon.com comprises 0.8% of Atticus Wealth Management LLC’s holdings, making the stock its 24th largest position. Atticus Wealth Management LLC’s holdings in Amazon.com were worth $2,536,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Cooksen Wealth LLC acquired a new stake in Amazon.com during the 4th quarter worth approximately $30,000. Strid Group LLC bought a new position in Amazon.com during the 4th quarter worth $43,000. Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter worth $46,000. Steph & Co. bought a new stake in shares of Amazon.com in the first quarter valued at about $65,000. Finally, Advantage Trust Co acquired a new position in shares of Amazon.com in the fourth quarter valued at about $68,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Tigress Financial boosted their price target on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Sanford C. Bernstein raised their price objective on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Robert W. Baird upped their target price on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Finally, Needham & Company LLC raised their price target on Amazon.com from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amazon.com has an average rating of “Buy” and an average target price of $221.36.

Insider Activity

In related news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the sale, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the transaction, the senior vice president now directly owns 59,500 shares in the company, valued at approximately $11,602,500. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock worth $1,220,621,322 in the last three months. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $178.50 on Monday. The firm has a market cap of $1.86 trillion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The business’s 50 day moving average price is $182.68 and its two-hundred day moving average price is $181.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. On average, equities analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current 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.