Boomfish Wealth Group LLC Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Boomfish Wealth Group LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,657 shares of the e-commerce giant’s stock after selling 661 shares during the quarter. Amazon.com accounts for 2.0% of Boomfish Wealth Group LLC’s portfolio, making the stock its 7th largest position. Boomfish Wealth Group LLC’s holdings in Amazon.com were worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMZN. Vanguard Group Inc. lifted its position in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares in the last quarter. Norges Bank acquired a new position in Amazon.com in the 4th quarter valued at about $17,700,551,000. Capital Research Global Investors grew its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Jennison Associates LLC grew its position in shares of Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after purchasing an additional 295,132 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Amazon.com by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after purchasing an additional 1,525,922 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Securities increased their price target on shares of Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. UBS Group increased their price objective on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company dropped their price target on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. BMO Capital Markets lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Cowen lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One 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 data from MarketBeat, the company has an average rating of “Buy” and an average target price of $222.49.

Amazon.com Stock Performance

Shares of AMZN stock opened at $177.89 on Friday. The firm has a market cap of $1.85 trillion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 1.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20. The firm’s 50-day simple moving average is $181.54 and its two-hundred day simple moving average is $181.18.

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, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. As a group, equities analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Insider Activity

In related news, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’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 completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 over the last quarter. Company insiders own 10.80% of the company’s stock.

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.