Spire Wealth Management Has $67.82 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Spire Wealth Management cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 351,064 shares of the e-commerce giant’s stock after selling 18,560 shares during the period. Amazon.com comprises about 2.4% of Spire Wealth Management’s investment portfolio, making the stock its 7th biggest position. Spire Wealth Management’s holdings in Amazon.com were worth $67,818,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the fourth quarter worth approximately $30,000. Clarity Asset Management Inc. bought a new position in Amazon.com in the fourth quarter worth approximately $46,000. Christopher J. Hasenberg Inc grew its stake in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares in the last quarter. Steph & Co. bought a new stake in Amazon.com during the 1st quarter valued at $65,000. Finally, Advantage Trust Co bought a new stake in Amazon.com during the 4th quarter valued at $68,000. Institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the 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 owns 519,753 shares in the company, valued at $101,866,390.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the 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 transaction, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,101,797 shares of company stock worth $1,220,129,922. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 1.7 %

Amazon.com stock opened at $187.97 on Friday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The stock’s fifty day simple moving average is $178.83 and its 200-day simple moving average is $182.48. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 52.99, a P/E/G ratio of 1.46 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 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, equities analysts expect that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wolfe Research assumed coverage on Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective for the company. UBS Group lifted their price objective on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group cut their price target on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Morgan Stanley lowered their price objective on Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Rosenblatt Securities lifted their price objective on Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $222.84.

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.