Abacus Wealth Partners LLC Sells 716 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Abacus Wealth Partners LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,211 shares of the e-commerce giant’s stock after selling 716 shares during the period. Amazon.com accounts for about 0.2% of Abacus Wealth Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Abacus Wealth Partners LLC’s holdings in Amazon.com were worth $1,120,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cooksen Wealth LLC purchased a new position in Amazon.com during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Amazon.com by 45.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares during the period. Strid Group LLC purchased a new position in Amazon.com during the fourth quarter valued at approximately $43,000. Harbor Investment Advisory LLC increased its holdings in Amazon.com by 0.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Amazon.com during the fourth quarter valued at approximately $46,000. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the transaction, the chief executive officer now owns 523,253 shares in the company, valued at approximately $92,767,524.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $181.38, for a total transaction of $90,690.00. Following the completion of the sale, the chief executive officer now owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. Insiders sold a total of 65,338 shares of company stock worth $11,894,344 in the last 90 days. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 price target on shares of Amazon.com in a report on Wednesday, May 1st. Maxim Group cut their price target on shares of Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 price target on shares of Amazon.com in a report on Wednesday, May 15th. Argus lifted their price target on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets lifted their price target on shares of Amazon.com from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $215.37.

Amazon.com Stock Up 1.6 %

AMZN opened at $189.08 on Friday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $191.70. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $182.78 and a 200 day moving average price of $171.37. The company has a market cap of $1.97 trillion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 4.72 earnings per share 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.