Selective Wealth Management Inc. Trims Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Selective Wealth Management Inc. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,819 shares of the e-commerce giant’s stock after selling 121 shares during the period. Selective Wealth Management Inc.’s holdings in Amazon.com were worth $1,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Icon Wealth Advisors LLC lifted its position in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com in the 3rd quarter valued at about $37,000. Bull Oak Capital LLC bought a new position in Amazon.com in the 3rd quarter worth about $45,000. Values First Advisors Inc. purchased a new position in shares of Amazon.com during the third quarter worth approximately $56,000. Finally, IFS Advisors LLC raised its stake in shares of Amazon.com by 1,625.0% during the fourth quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after acquiring an additional 325 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Amazon.com stock opened at $237.68 on Friday. The firm has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 50.90, a PEG ratio of 1.35 and a beta of 1.14. The company has a fifty day simple moving average of $223.02 and a 200-day simple moving average of $198.55. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $241.77. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities analysts anticipate that Amazon.com, Inc. will post 5.3 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the sale, the director now owns 94,630 shares in the company, valued at approximately $19,858,105.50. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,027,340 shares of company stock worth $1,252,456,773. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several research reports. Benchmark raised their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Loop Capital increased their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Pivotal Research initiated coverage on shares of Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target for the company. Finally, DA Davidson reiterated a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.33.

Amazon.com Company 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.