TRB Advisors LP Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)
TRB Advisors LP decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 42.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,500 shares of the e-commerce giant’s stock after selling 2,600 shares during the quarter. Amazon.com accounts for 5.4% of TRB Advisors LP’s investment portfolio, making the stock its 7th biggest holding. TRB Advisors LP’s holdings in Amazon.com were worth $6,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Enterprise Trust & Investment Co purchased a new stake in shares of Amazon.com in the 2nd quarter valued at approximately $27,000. Signet Investment Advisory Group Inc. acquired a new position in shares of Amazon.com in the fourth quarter worth $33,000. Financial Advantage Inc. purchased a new stake in shares of Amazon.com during the fourth quarter worth $45,000. Litman Gregory Asset Management LLC acquired a new stake in Amazon.com during the second quarter valued at $53,000. Finally, Clear Investment Research LLC grew its stake in Amazon.com by 27.6% in the second quarter. Clear Investment Research LLC now owns 37 shares of the e-commerce giant’s stock valued at $70,000 after purchasing an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 55.92% of the company’s stock.
AMZN has been the subject of several research reports. Credit Suisse Group reiterated an “outperform” rating and set a $2,250.00 price target (up from $2,200.00) on shares of Amazon.com in a report on Wednesday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $2,600.00 price objective (up previously from $2,250.00) on shares of Amazon.com in a research report on Tuesday, September 3rd. Cowen set a $2,500.00 target price on shares of Amazon.com and gave the company a “buy” rating in a research note on Monday, July 15th. Wedbush restated a “buy” rating and set a $2,350.00 price target on shares of Amazon.com in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Amazon.com in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and forty-two have issued a buy rating to the stock. Amazon.com presently has an average rating of “Buy” and a consensus target price of $2,259.84.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, July 25th. The e-commerce giant reported $5.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.29 by ($0.07). The firm had revenue of $63.40 billion during the quarter, compared to analyst estimates of $62.59 billion. Amazon.com had a return on equity of 26.27% and a net margin of 4.80%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the business posted $5.07 earnings per share. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 24.01 EPS for the current fiscal year.
In related news, CEO Jeffrey A. Wilke sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1,792.10, for a total transaction of $4,480,250.00. Following the sale, the chief executive officer now directly owns 10,000 shares in the company, valued at $17,921,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 7,308 shares of Amazon.com stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $2,000.00, for a total value of $14,616,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,614 shares in the company, valued at approximately $185,228,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,714 shares of company stock valued at $51,174,807. 16.10% of the stock is owned by corporate insiders.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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