Oak Asset Management LLC Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Oak Asset Management LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,180 shares of the e-commerce giant’s stock after selling 300 shares during the period. Oak Asset Management LLC’s holdings in Amazon.com were worth $2,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cooksen Wealth LLC purchased a new stake in Amazon.com during the 4th quarter worth about $30,000. Strid Group LLC purchased a new stake in Amazon.com during the 4th quarter worth about $43,000. Harbor Investment Advisory LLC increased its position in Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 1,988 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in Amazon.com during the 4th quarter worth about $46,000. Finally, Steph & Co. purchased a new stake in Amazon.com during the 1st quarter worth about $65,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com 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 completion of the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,107,817 shares of company stock valued at $1,221,241,837. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $177.04 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $201.20. The stock’s 50 day moving average is $183.78 and its two-hundred day moving average is $180.98. The company has a market capitalization of $1.84 trillion, a PE ratio of 49.59, a P/E/G ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMZN. Mizuho lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays lifted their price objective on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Tigress Financial raised their price target on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Oppenheimer raised their price target on Amazon.com from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Wolfe Research assumed coverage on Amazon.com in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target on the stock. One research analyst has rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $221.69.

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.