Phraction Management LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Phraction Management LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,248 shares of the e-commerce giant’s stock after selling 59 shares during the quarter. Amazon.com makes up about 8.1% of Phraction Management LLC’s portfolio, making the stock its 2nd biggest holding. Phraction Management LLC’s holdings in Amazon.com were worth $22,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Garrison Point Advisors LLC lifted its holdings in shares of Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. grew its holdings in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC increased its holdings in Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares during the period. Stordahl Capital Management Inc. boosted its holdings in Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after acquiring an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its stake in Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after buying an additional 57 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research analyst reports. JMP Securities increased 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. Royal Bank of Canada restated an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Thursday, September 12th. UBS Group increased their price target on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. decreased their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $223.65.

Amazon.com Stock Down 0.9 %

Shares of AMZN opened at $186.33 on Tuesday. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month 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. The company has a market capitalization of $1.94 trillion, a PE ratio of 52.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The business’s 50 day moving average is $179.00 and its 200 day moving average is $182.74.

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

Insiders Place Their Bets

In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com 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 completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold 4,634,860 shares of company stock valued at $926,639,482 over the last three months. 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.