Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,577 shares of the e-commerce giant’s stock after selling 197 shares during the period. Palouse Capital Management Inc.’s holdings in Amazon.com were worth $1,271,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AMZN. Garrison Point Advisors LLC raised its stake in 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 acquiring an additional 55 shares during the period. Meridian Investment Counsel Inc. raised its stake in Amazon.com by 1.8% during the second 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 stake in Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. raised its stake in Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after acquiring an additional 56 shares during the period. Finally, Lutz Financial Services LLC raised its stake in Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after acquiring an additional 57 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Piper Sandler dropped their price target on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wedbush restated an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Telsey Advisory Group reiterated an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Finally, Evercore ISI reiterated an “outperform” rating and set a $240.00 price objective on shares of Amazon.com in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the firm’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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock valued at $9,877,423 in the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Up 0.8 %

Shares of NASDAQ:AMZN opened at $188.99 on Friday. The firm has a fifty day moving average of $181.98 and a two-hundred day moving average of $183.42. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

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, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, equities analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current fiscal 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.