Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 17.6% in the second quarter, Holdings Channel reports. The institutional investor owned 114,091 shares of the e-commerce giant’s stock after selling 24,385 shares during the quarter. Amazon.com comprises approximately 4.0% of Destiny Wealth Partners LLC’s holdings, making the stock its 4th largest position. Destiny Wealth Partners LLC’s holdings in Amazon.com were worth $22,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Norges Bank acquired a new stake in Amazon.com in the 4th quarter valued at approximately $17,700,551,000. Capital Research Global Investors grew its stake in shares of Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after acquiring an additional 295,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Amazon.com by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after acquiring an additional 1,525,922 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.3 %

Shares of Amazon.com stock opened at $186.49 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $181.68. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14.

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

Analyst Upgrades and Downgrades

AMZN has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. The Goldman Sachs Group dropped their price target on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. UBS Group lifted their price objective on shares of Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler decreased their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America decreased their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $222.49.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 $8,820,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is owned by company insiders.

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.