Edge Wealth Management LLC Has $3.36 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Edge Wealth Management LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,630 shares of the e-commerce giant’s stock after selling 1,099 shares during the quarter. Amazon.com makes up about 0.7% of Edge Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Edge Wealth Management LLC’s holdings in Amazon.com were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Towerpoint Wealth LLC increased its holdings in shares of Amazon.com by 19.0% during the first quarter. Towerpoint Wealth LLC now owns 2,201 shares of the e-commerce giant’s stock worth $397,000 after buying an additional 352 shares in the last quarter. Colorado Capital Management Inc. increased its holdings in Amazon.com by 103.2% in the 1st quarter. Colorado Capital Management Inc. now owns 6,220 shares of the e-commerce giant’s stock worth $1,122,000 after purchasing an additional 3,159 shares in the last quarter. Procyon Advisors LLC raised its position in Amazon.com by 1.8% in the first quarter. Procyon Advisors LLC now owns 179,724 shares of the e-commerce giant’s stock valued at $32,419,000 after purchasing an additional 3,264 shares during the last quarter. PFS Partners LLC boosted its stake in shares of Amazon.com by 30.9% during the first quarter. PFS Partners LLC now owns 2,092 shares of the e-commerce giant’s stock valued at $377,000 after purchasing an additional 494 shares in the last quarter. Finally, Arkansas Financial Group Inc. bought a new stake in shares of Amazon.com during the first quarter worth about $233,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 1.4 %

AMZN stock opened at $200.00 on Wednesday. The stock’s 50 day moving average is $184.27 and its 200-day moving average is $173.63. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $200.43. The firm has a market capitalization of $2.08 trillion, a PE ratio of 56.02, a P/E/G ratio of 1.38 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMZN. Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a report on Wednesday, May 1st. Raymond James raised their price target on shares of Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a research note on Wednesday, May 1st. Truist Financial boosted their price objective on shares of Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Stifel Nicolaus raised their target price on Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird upped their price target on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Buy” and an average target price of $215.86.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of Amazon.com stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was 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 directly owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the transaction, the senior vice president now directly owns 59,500 shares in the company, valued at $11,602,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,548 shares of company stock worth $12,180,239. 10.80% of the stock is owned by insiders.

About Amazon.com

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.