Peak Financial Advisors LLC Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Peak Financial Advisors LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,729 shares of the e-commerce giant’s stock after selling 751 shares during the quarter. Amazon.com makes up 1.9% of Peak Financial Advisors LLC’s investment portfolio, making the stock its 12th largest position. Peak Financial Advisors LLC’s holdings in Amazon.com were worth $3,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. Garrison Point Advisors LLC lifted its holdings in Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after buying an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its holdings in Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after buying an additional 56 shares during the last quarter. Stordahl Capital Management Inc. lifted its holdings in Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares during the last quarter. Lutz Financial Services LLC lifted its holdings in Amazon.com by 1.9% during the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after buying an additional 57 shares during the last quarter. Finally, O Dell Group LLC lifted its holdings in Amazon.com by 0.4% during the 1st quarter. O Dell Group LLC now owns 13,638 shares of the e-commerce giant’s stock worth $2,460,000 after buying an additional 57 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, 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. In the last 90 days, insiders have sold 6,107,817 shares of company stock valued at $1,221,241,837. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMZN. UBS Group lifted their price target on Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $215.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Rosenblatt Securities lifted their target price on Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Finally, Truist Financial lifted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has an average rating of “Buy” and a consensus price target of $221.69.

Amazon.com Price Performance

AMZN stock opened at $177.04 on Friday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The stock’s 50 day moving average price is $183.78 and its 200 day moving average price is $180.98. The firm has a market cap of $1.84 trillion, a P/E ratio of 49.59, a PEG ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its earnings results 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 return on equity of 22.35% and a net margin of 7.35%. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. On average, sell-side analysts expect that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

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.