Concorde Asset Management LLC Sells 920 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Concorde Asset Management LLC trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 11.1% in the second quarter, HoldingsChannel reports. The fund owned 7,371 shares of the e-commerce giant’s stock after selling 920 shares during the period. Amazon.com makes up 0.9% of Concorde Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. Concorde Asset Management LLC’s holdings in Amazon.com were worth $1,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMZN. PayPay Securities Corp lifted its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Christopher J. Hasenberg Inc increased its stake in shares of 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 buying an additional 260 shares during the period. Steph & Co. purchased a new position in shares of Amazon.com in the first quarter worth $65,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com in the first quarter worth $69,000. Finally, Innealta Capital LLC purchased a new position in shares of Amazon.com in the second quarter worth $77,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $188.99 on Friday. The firm’s 50-day moving average price is $181.98 and its 200-day moving average price is $183.42. 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 has a market cap of $1.97 trillion, a PE ratio of 52.94, a PEG ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) 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 the consensus estimate of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, analysts anticipate that Amazon.com, Inc. will post 4.85 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on AMZN shares. Sanford C. Bernstein lifted their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. UBS Group lifted their target price on shares of Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Wells Fargo & Company downgraded shares of Amazon.com from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $225.00 to $183.00 in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,355 shares of company stock valued at $9,877,423 in the last 90 days. 10.80% of the stock is currently owned by 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.