Axiom Advisory LLC Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Axiom Advisory LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 29.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,689 shares of the e-commerce giant’s stock after selling 696 shares during the quarter. Amazon.com accounts for approximately 0.2% of Axiom Advisory LLC’s portfolio, making the stock its 27th biggest position. Axiom Advisory LLC’s holdings in Amazon.com were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Amazon.com during the 4th quarter worth about $17,700,551,000. Vanguard Group Inc. increased its holdings in Amazon.com by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after purchasing an additional 32,038,029 shares during the period. International Assets Investment Management LLC increased its holdings in Amazon.com by 16,029.3% during the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares during the period. FMR LLC increased its holdings in Amazon.com by 7.7% during the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares during the period. Finally, Global Assets Advisory LLC increased its holdings in Amazon.com by 30,350.2% during the 1st quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant’s stock worth $1,178,164,000 after purchasing an additional 6,510,119 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now owns 523,253 shares in the company, valued at $92,767,524.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total value of $489,753.00. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,338 shares of company stock worth $11,894,344. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMZN shares. Needham & Company LLC restated a “buy” rating and set a $205.00 price target on shares of Amazon.com in a report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a research report on Wednesday, May 1st. Mizuho upped their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Telsey Advisory Group upped their price objective on Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Maxim Group lowered their price objective on Amazon.com from $318.00 to $238.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $215.74.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $197.85 on Friday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $199.84. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 55.42, a PEG ratio of 1.33 and a beta of 1.14. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $183.13 and its 200 day moving average price is $172.43.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com, Inc. will post 4.72 earnings per share for the current 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.