Van ECK Associates Corp Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Van ECK Associates Corp decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,313,002 shares of the e-commerce giant’s stock after selling 39,824 shares during the period. Van ECK Associates Corp’s holdings in Amazon.com were worth $253,738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Equita Financial Network Inc. increased its position in shares of Amazon.com by 6.1% in the 2nd quarter. Equita Financial Network Inc. now owns 1,879 shares of the e-commerce giant’s stock worth $363,000 after purchasing an additional 108 shares during the last quarter. Sage Mountain Advisors LLC boosted its holdings in shares of Amazon.com by 20.2% in the 2nd quarter. Sage Mountain Advisors LLC now owns 51,162 shares of the e-commerce giant’s stock valued at $9,887,000 after buying an additional 8,591 shares during the period. Catalytic Wealth RIA LLC boosted its holdings in shares of Amazon.com by 0.4% in the 2nd quarter. Catalytic Wealth RIA LLC now owns 45,407 shares of the e-commerce giant’s stock valued at $8,775,000 after buying an additional 184 shares during the period. Anfield Capital Management LLC boosted its holdings in shares of Amazon.com by 4.2% in the 2nd quarter. Anfield Capital Management LLC now owns 2,970 shares of the e-commerce giant’s stock valued at $574,000 after buying an additional 120 shares during the period. Finally, Ingalls & Snyder LLC boosted its holdings in shares of Amazon.com by 1.7% in the 2nd quarter. Ingalls & Snyder LLC now owns 182,386 shares of the e-commerce giant’s stock valued at $35,246,000 after buying an additional 3,064 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of analyst reports. Jefferies Financial Group reduced their target price on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Evercore ISI boosted their target price on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Maxim Group boosted their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JMP Securities boosted their target price on shares of Amazon.com from $245.00 to $265.00 and gave the stock a “market outperform” rating in a report on Tuesday, September 3rd. Finally, Roth Mkm boosted their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Buy” and an average target price of $222.84.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now directly 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 6,101,797 shares of company stock worth $1,220,129,922 in the last ninety days. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $187.97 on Friday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The firm’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 PE ratio of 52.65, a PEG ratio of 1.46 and a beta of 1.14.

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

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.