Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Proathlete Wealth Management LLC

Proathlete Wealth Management LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.7% in the 2nd quarter, Holdings Channel reports. The firm owned 12,802 shares of the e-commerce giant’s stock after selling 85 shares during the period. Amazon.com makes up approximately 1.2% of Proathlete Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Proathlete Wealth Management LLC’s holdings in Amazon.com were worth $2,474,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AMZN. Garrison Point Advisors LLC increased its holdings in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares during the period. Meridian Investment Counsel Inc. increased its stake in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the period. Ridgecrest Wealth Partners LLC raised its holdings in Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares in the last quarter. Stordahl Capital Management Inc. lifted its position in shares of Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after acquiring an additional 56 shares during the period. Finally, Lutz Financial Services LLC grew its holdings in shares of Amazon.com by 1.9% during the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP David Zapolsky sold 4,710 shares of Amazon.com 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 owns 59,500 shares of the company’s stock, valued at $11,602,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on AMZN shares. Wells Fargo & Company dropped their price target on Amazon.com from $232.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Piper Sandler cut their price target on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Roth Mkm increased their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, JMP Securities raised their target price on Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amazon.com currently has a consensus rating of “Buy” and a consensus price target of $222.49.

Amazon.com Stock Performance

Shares of AMZN opened at $189.87 on Friday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company has a market cap of $1.98 trillion, a PE ratio of 53.18, a P/E/G ratio of 1.39 and a beta of 1.14. The stock has a 50-day moving average of $178.60 and a 200-day moving average of $181.88. 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 announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. On average, equities research analysts predict that Amazon.com, Inc. will post 4.86 EPS for the current fiscal 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.