Mattern Wealth Management LLC Sells 519 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Mattern Wealth Management LLC decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,332 shares of the e-commerce giant’s stock after selling 519 shares during the period. Amazon.com makes up about 1.4% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Mattern Wealth Management LLC’s holdings in Amazon.com were worth $5,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $30,000. Strid Group LLC bought a new position in shares of Amazon.com during the fourth quarter worth about $43,000. Clarity Asset Management Inc. bought a new position in shares of Amazon.com during the fourth quarter worth about $46,000. Steph & Co. bought a new position in shares of Amazon.com during the first quarter worth about $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of Amazon.com during the first quarter worth about $69,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 3.7 %

Shares of AMZN opened at $178.50 on Monday. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The business’s fifty day moving average is $182.68 and its 200-day moving average is $181.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The firm has a market cap of $1.86 trillion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.34 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Equities analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Insider Activity

In related news, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s 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 sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the sale, the senior vice president now directly owns 59,500 shares in the company, valued at approximately $11,602,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Stifel Nicolaus decreased their price objective on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Wolfe Research assumed coverage on Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price target for the company. Finally, Maxim Group increased their price target on Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.