Amazon.com, Inc. (NASDAQ:AMZN) Position Lessened by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 12.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 12,048 shares of the e-commerce giant’s stock after selling 1,778 shares during the period. Patriot Investment Management Group Inc.’s holdings in Amazon.com were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AMZN. International Assets Investment Management LLC boosted its position in shares of Amazon.com by 6.2% during the fourth quarter. International Assets Investment Management LLC now owns 157,070 shares of the e-commerce giant’s stock worth $23,865,000 after buying an additional 9,108 shares during the period. Cherry Creek Investment Advisors Inc. lifted its holdings in Amazon.com by 1.0% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 62,278 shares of the e-commerce giant’s stock worth $9,463,000 after purchasing an additional 616 shares during the period. Gruss & Co. LLC boosted its holdings in shares of Amazon.com by 114.3% in the fourth quarter. Gruss & Co. LLC now owns 4,500 shares of the e-commerce giant’s stock valued at $684,000 after acquiring an additional 2,400 shares in the last quarter. Blossom Wealth Management raised its holdings in Amazon.com by 30.2% during the fourth quarter. Blossom Wealth Management now owns 4,913 shares of the e-commerce giant’s stock worth $746,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Hendershot Investments Inc. lifted its position in Amazon.com by 6.4% in the fourth quarter. Hendershot Investments Inc. now owns 2,785 shares of the e-commerce giant’s stock worth $423,000 after purchasing an additional 167 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. TD Securities raised their target price on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Raymond James increased their price target on Amazon.com from $200.00 to $205.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group cut their price objective on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and an average target price of $221.36.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $175.50 on Tuesday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. 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 has a fifty day simple moving average of $183.61 and a 200 day simple moving average of $181.09. The firm has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 49.16, a PEG ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Sell-side analysts expect that Amazon.com, Inc. will post 4.73 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock valued at $1,221,241,837 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Amazon.com 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.