Benin Management CORP Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Benin Management CORP reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,784 shares of the e-commerce giant’s stock after selling 368 shares during the quarter. Amazon.com accounts for 1.5% of Benin Management CORP’s portfolio, making the stock its 10th largest position. Benin Management CORP’s holdings in Amazon.com were worth $4,983,000 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. Collective Family Office LLC lifted its position in Amazon.com by 9.7% during the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after buying an additional 819 shares in the last quarter. Phillips Wealth Planners LLC lifted its position in Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Amazon.com during the 4th quarter worth about $5,926,000. Clearstead Trust LLC lifted its position in Amazon.com by 25.8% during the 4th quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock worth $9,958,000 after buying an additional 13,454 shares in the last quarter. Finally, Summa Corp. bought a new stake in Amazon.com during the 4th quarter worth about $1,506,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $184.52 on Thursday. The company has a 50 day moving average of $179.99 and a 200-day moving average of $181.44. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year 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 cap of $1.92 trillion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion during 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, equities research analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total value of $685,965.00. Following the completion of the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the transaction, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Insiders sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 in the last quarter. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMZN shares. Barclays boosted their price target on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus lowered their price objective on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Tigress Financial boosted their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wolfe Research initiated coverage on shares of Amazon.com in a research note on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price objective on the stock. Finally, Bank of America lowered their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $222.49.

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.