Powell Investment Advisors LLC Sells 547 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Powell Investment Advisors LLC cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,494 shares of the e-commerce giant’s stock after selling 547 shares during the quarter. Amazon.com makes up 2.9% of Powell Investment Advisors LLC’s portfolio, making the stock its 9th largest position. Powell Investment Advisors LLC’s holdings in Amazon.com were worth $5,501,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $17,700,551,000. Vanguard Group Inc. raised its position in shares of Amazon.com by 4.4% in the third quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock valued at $96,350,832,000 after purchasing an additional 32,038,029 shares during the period. International Assets Investment Management LLC lifted its stake in shares of 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 buying an additional 23,717,254 shares during the last quarter. Global Assets Advisory LLC boosted its holdings in shares of 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 buying an additional 6,510,119 shares during the period. Finally, Northern Trust Corp grew its stake in Amazon.com by 3.7% in the 3rd quarter. Northern Trust Corp now owns 92,329,336 shares of the e-commerce giant’s stock valued at $11,736,905,000 after buying an additional 3,260,411 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ AMZN opened at $197.59 on Thursday. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 55.35, a PEG ratio of 1.38 and a beta of 1.15. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $200.43. The stock has a fifty day simple moving average of $184.68 and a 200 day simple moving average of $173.98. 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 issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Sell-side analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMZN. Bank of America boosted their price objective on Amazon.com from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Moffett Nathanson restated a “buy” rating and issued a $228.00 price target on shares of Amazon.com in a research note on Thursday, April 11th. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Amazon.com from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Tigress Financial upped their price target on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Buy” and an average target price of $215.86.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the sale, the chief executive officer now owns 519,753 shares in the company, valued at approximately $101,866,390.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the sale, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,548 shares of company stock worth $12,774,204. 10.80% of the stock is currently owned by insiders.

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.