Ballast Inc. Sells 66 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Ballast Inc. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,931 shares of the e-commerce giant’s stock after selling 66 shares during the period. Amazon.com accounts for 0.9% of Ballast Inc.’s portfolio, making the stock its 21st largest position. Ballast Inc.’s holdings in Amazon.com were worth $3,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Cooksen Wealth LLC bought a new stake in Amazon.com during the 4th quarter valued at about $30,000. Strid Group LLC purchased a new position in shares of Amazon.com during the fourth quarter worth approximately $43,000. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $46,000. Steph & Co. purchased a new stake in shares of Amazon.com in the first quarter valued at approximately $65,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in Amazon.com during the 1st quarter worth $69,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMZN shares. Loop Capital increased their price target on Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Tigress Financial increased their target price on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Monness Crespi & Hardt boosted their price target 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 increased their price objective 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. Finally, Telsey Advisory Group boosted their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. 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’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Buy” and a consensus target price of $221.36.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $175.50 on Tuesday. The firm has a market cap of $1.83 trillion, a PE ratio of 49.16, a P/E/G ratio of 1.32 and a beta of 1.15. The business has a 50-day moving average price of $183.61 and a 200 day moving average price of $181.09. 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, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued 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. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. Sell-side analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares in the company, valued at approximately $186,450,290,169.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now directly owns 931,925,277 shares in the company, valued at approximately $186,450,290,169.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. In the last three months, insiders sold 6,107,817 shares of company stock worth $1,221,241,837. 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.