Ignite Planners LLC Decreases Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Ignite Planners LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,859 shares of the e-commerce giant’s stock after selling 150 shares during the period. Amazon.com accounts for approximately 1.6% of Ignite Planners LLC’s portfolio, making the stock its 11th biggest holding. Ignite Planners LLC’s holdings in Amazon.com were worth $6,372,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cooksen Wealth LLC purchased a new position in shares of Amazon.com during the 4th quarter worth $30,000. Strid Group LLC purchased a new position in shares of Amazon.com during the 4th quarter worth $43,000. Harbor Investment Advisory LLC raised its holdings in shares of Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 1,988 shares during the period. Clarity Asset Management Inc. purchased a new position in shares of Amazon.com during the 4th quarter worth $46,000. Finally, Steph & Co. purchased a new position in shares of Amazon.com during the 1st quarter worth $65,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $177.04 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The stock has a 50 day moving average of $183.78 and a two-hundred day moving average of $180.98. The stock has a market cap of $1.84 trillion, a P/E ratio of 49.59, a P/E/G ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. The business had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. On average, research analysts forecast that Amazon.com, Inc. will post 4.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Monness Crespi & Hardt boosted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Raymond James boosted their price objective on shares of Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $221.69.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’s 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 sale, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock worth $1,221,241,837 over the last 90 days. 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.