Amazon.com, Inc. (AMZN) Stake Cut by Gradient Investments LLC
Gradient Investments LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 26.9% during the second quarter, Holdings Channel reports. The institutional investor owned 272 shares of the e-commerce giant’s stock after selling 100 shares during the period. Gradient Investments LLC’s holdings in Amazon.com were worth $263,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of AMZN. Norges Bank purchased a new position in shares of Amazon.com during the fourth quarter valued at about $2,736,365,000. State Street Corp raised its position in shares of Amazon.com by 1.1% in the first quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock valued at $14,667,392,000 after buying an additional 186,756 shares during the period. Karp Capital Management Corp purchased a new position in shares of Amazon.com during the first quarter valued at about $157,189,000. Canada Pension Plan Investment Board raised its position in shares of Amazon.com by 401.7% in the first quarter. Canada Pension Plan Investment Board now owns 158,030 shares of the e-commerce giant’s stock valued at $140,100,000 after buying an additional 126,534 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Amazon.com by 11.9% in the first quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock valued at $783,286,000 after buying an additional 93,757 shares during the period. 61.90% of the stock is currently owned by institutional investors.
Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded up 1.45% on Monday, hitting $982.07. The stock had a trading volume of 1,673,158 shares. The firm has a 50 day moving average of $998.12 and a 200-day moving average of $926.08. The firm has a market capitalization of $471.77 billion, a price-to-earnings ratio of 249.76 and a beta of 1.48. Amazon.com, Inc. has a 1-year low of $710.10 and a 1-year high of $1,083.31.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by $1.00. The firm had revenue of $37.96 billion for the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share. Equities analysts predict that Amazon.com, Inc. will post $3.83 earnings per share for the current year.
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A number of equities research analysts recently commented on AMZN shares. Instinet dropped their price objective on Amazon.com from $1,100.00 to $975.00 and set a “buy” rating for the company in a report on Friday, June 16th. Loop Capital reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, June 8th. Vetr downgraded Amazon.com from a “strong-buy” rating to a “buy” rating and set a $1,132.46 price objective for the company. in a report on Tuesday, July 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $970.00 price objective on shares of Amazon.com in a report on Friday, April 28th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Amazon.com in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, forty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,065.61.
In other news, CEO Jeffrey A. Wilke sold 4,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $969.73, for a total transaction of $3,878,920.00. Following the completion of the sale, the chief executive officer now directly owns 10,000 shares in the company, valued at $9,697,300. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey A. Wilke sold 710 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $987.39, for a total transaction of $701,046.90. Following the sale, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $9,873,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,890 shares of company stock valued at $10,800,023. 17.70% of the stock is currently owned by company insiders.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.
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