AMI Asset Management Corp Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

AMI Asset Management Corp lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 419,355 shares of the e-commerce giant’s stock after selling 5,465 shares during the quarter. Amazon.com comprises 4.4% of AMI Asset Management Corp’s holdings, making the stock its 4th biggest position. AMI Asset Management Corp’s holdings in Amazon.com were worth $81,040,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in shares of Amazon.com by 291.8% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 28,995 shares of the e-commerce giant’s stock worth $4,406,000 after purchasing an additional 21,595 shares in the last quarter. K.J. Harrison & Partners Inc lifted its position in Amazon.com by 2.5% during the fourth quarter. K.J. Harrison & Partners Inc now owns 103,676 shares of the e-commerce giant’s stock worth $15,753,000 after purchasing an additional 2,497 shares during the period. Kovack Advisors Inc. grew its stake in Amazon.com by 1.0% during the fourth quarter. Kovack Advisors Inc. now owns 182,815 shares of the e-commerce giant’s stock worth $27,777,000 after buying an additional 1,772 shares in the last quarter. KFA Private Wealth Group LLC increased its holdings in Amazon.com by 2.7% in the 4th quarter. KFA Private Wealth Group LLC now owns 15,484 shares of the e-commerce giant’s stock valued at $2,353,000 after buying an additional 401 shares during the period. Finally, Alesco Advisors LLC raised its position in shares of Amazon.com by 69.8% in the 4th quarter. Alesco Advisors LLC now owns 5,773 shares of the e-commerce giant’s stock valued at $877,000 after buying an additional 2,373 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The disclosure for this sale can be found here. Insiders have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 over the last 90 days. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMZN. Wedbush reiterated an “outperform” rating and set a $225.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JMP Securities boosted their price target on Amazon.com from $245.00 to $265.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 3rd. Rosenblatt Securities raised their price objective on Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has an average rating of “Buy” and an average target price of $222.49.

Amazon.com Stock Performance

AMZN opened at $186.49 on Friday. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 52.24, a PEG ratio of 1.39 and a beta of 1.14. The company’s fifty day moving average price is $179.51 and its two-hundred day moving average price is $181.62. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, analysts expect that Amazon.com, Inc. will post 4.86 EPS 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.