Baskin Financial Services Inc. Sells 1,741 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Baskin Financial Services Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,737 shares of the e-commerce giant’s stock after selling 1,741 shares during the quarter. Amazon.com comprises approximately 4.0% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 9th biggest position. Baskin Financial Services Inc.’s holdings in Amazon.com were worth $46,329,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $30,000. Clarity Asset Management Inc. acquired a new position in Amazon.com during the 4th quarter valued at about $46,000. Steph & Co. acquired a new position in Amazon.com during the 1st quarter valued at about $65,000. Advantage Trust Co purchased a new position in shares of Amazon.com in the 4th quarter worth approximately $68,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com in the 1st quarter worth approximately $69,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.3 %

Shares of Amazon.com stock opened at $186.49 on Friday. The company’s fifty day simple moving average is $179.51 and its 200-day simple moving average is $181.62. The stock has a market capitalization of $1.96 trillion, a PE ratio of 52.24, a P/E/G ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, equities analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Maxim Group lifted their price target on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler lowered their price target on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group lowered their price target on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. TD Cowen boosted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Barclays boosted their target price on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $222.49.

Insider Activity

In other news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the sale, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Zapolsky sold 4,710 shares of Amazon.com stock in a transaction dated 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 in the company, valued at $11,602,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

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.