Amazon.com, Inc. $AMZN Position Decreased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,039 shares of the e-commerce giant’s stock after selling 5,903 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Amazon.com were worth $1,050,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MilWealth Group LLC grew its position in Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new position in Amazon.com in the 4th quarter worth about $45,000. Elkhorn Partners Limited Partnership increased its holdings in Amazon.com by 900.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 180 shares during the last quarter. Fairway Wealth LLC raised its holdings in shares of Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. raised its holdings in Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity

In other news, CEO Matthew S. Garman sold 15,467 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total transaction of $4,074,007.80. Following the transaction, the chief executive officer directly owned 14,159 shares of the company’s stock, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jonathan Rubinstein sold 3,706 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $273.02, for a total value of $1,011,812.12. Following the sale, the director directly owned 74,948 shares in the company, valued at $20,462,302.96. This represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 140,425 shares of company stock worth $37,715,464. Insiders own 8.90% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $232.11 on Monday. The firm’s 50 day simple moving average is $248.26 and its 200 day simple moving average is $236.34. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.74 and a beta of 1.46. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same period last year, the company earned $1.59 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Trending Headlines about Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Analyst Ratings Changes

AMZN has been the topic of a number of recent analyst reports. KeyCorp set a $335.00 price target on shares of Amazon.com and gave the company an “overweight” rating in a research report on Thursday, July 16th. Rosenblatt Securities upped their price target on Amazon.com from $296.00 to $332.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Mizuho raised their price objective on shares of Amazon.com from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. restated a “buy” rating on shares of Amazon.com in a research report on Friday, June 26th. Finally, HSBC boosted their price target on shares of Amazon.com from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.91.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.