Seven Springs Wealth Group LLC Sells 667 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Seven Springs Wealth Group LLC lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,971 shares of the e-commerce giant’s stock after selling 667 shares during the period. Amazon.com makes up approximately 2.1% of Seven Springs Wealth Group LLC’s investment portfolio, making the stock its 11th largest position. Seven Springs Wealth Group LLC’s holdings in Amazon.com were worth $5,405,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Garrison Point Advisors LLC grew its stake in Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its stake in Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after buying an additional 56 shares in the last quarter. Stordahl Capital Management Inc. grew its stake in Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares in the last quarter. Finally, Lutz Financial Services LLC grew its stake in Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after buying an additional 57 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a report on Monday. Stifel Nicolaus cut their price target on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Morgan Stanley cut their price target on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Tigress Financial raised their price target on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $222.84.

Amazon.com Stock Performance

AMZN opened at $192.53 on Thursday. The stock has a market cap of $2.02 trillion, a PE ratio of 53.93, a P/E/G ratio of 1.46 and a beta of 1.14. 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, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock’s 50 day simple moving average is $178.59 and its 200-day simple moving average is $182.35.

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 analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Sell-side analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The disclosure for this sale can be found here. Insiders have sold 6,099,607 shares of company stock valued at $1,219,702,872 over the last 90 days. 10.80% of the stock is owned by company insiders.

About Amazon.com

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.