Amazon.com, Inc. (NASDAQ:AMZN) Stake Reduced by Echo Wealth Management LLC

Echo Wealth Management LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,492 shares of the e-commerce giant’s stock after selling 390 shares during the quarter. Amazon.com comprises approximately 1.2% of Echo Wealth Management LLC’s holdings, making the stock its 22nd largest position. Echo Wealth Management LLC’s holdings in Amazon.com were worth $1,641,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Narus Financial Partners LLC boosted its position in Amazon.com by 2.7% during the 2nd quarter. Narus Financial Partners LLC now owns 6,681 shares of the e-commerce giant’s stock worth $1,291,000 after acquiring an additional 177 shares during the period. Home Federal Bank of Tennessee boosted its position in Amazon.com by 27.6% during the 2nd quarter. Home Federal Bank of Tennessee now owns 2,287 shares of the e-commerce giant’s stock worth $442,000 after acquiring an additional 494 shares during the period. Atlas Wealth Partners LLC acquired a new position in Amazon.com during the 2nd quarter worth $806,000. Clear Harbor Asset Management LLC lifted its holdings in shares of Amazon.com by 1.1% in the second quarter. Clear Harbor Asset Management LLC now owns 87,061 shares of the e-commerce giant’s stock valued at $16,825,000 after buying an additional 925 shares during the period. Finally, Mcdonald Partners LLC lifted its holdings in shares of Amazon.com by 1.6% in the second quarter. Mcdonald Partners LLC now owns 24,770 shares of the e-commerce giant’s stock valued at $4,787,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN opened at $178.50 on Monday. The company has a market cap of $1.86 trillion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. The stock has a 50-day moving average of $182.68 and a 200-day moving average of $181.15. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (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 the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, equities research analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 4,710 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the sale, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP David Zapolsky sold 4,710 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the sale, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the sale, the chief executive officer now owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock worth $1,220,621,322 in the last 90 days. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMZN. Robert W. Baird upped their price objective on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Tigress Financial upped their price objective on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. BMO Capital Markets upped their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Loop Capital upped their price objective on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $221.36.

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.