Aspen Investment Management Inc Sells 235 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Aspen Investment Management Inc decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,892 shares of the e-commerce giant’s stock after selling 235 shares during the quarter. Amazon.com comprises approximately 1.5% of Aspen Investment Management Inc’s portfolio, making the stock its 13th biggest holding. Aspen Investment Management Inc’s holdings in Amazon.com were worth $3,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings 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 valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth $17,700,551,000. Capital Research Global Investors increased its holdings in shares of Amazon.com by 8.5% in the first 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 during the period. Bank of New York Mellon Corp increased its holdings in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Amazon.com by 0.5% in the first 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 during the period. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated 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 directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Amazon.com 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 transaction 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 $371,759,651.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. 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 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Morgan Stanley decreased their price target on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Roth Mkm upped their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $222.49.

Amazon.com Price Performance

AMZN stock opened at $186.43 on Thursday. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The company has a market cap of $1.94 trillion, a P/E ratio of 52.22, a PEG ratio of 1.39 and a beta of 1.14. The firm has a 50-day moving average of $178.71 and a 200 day moving average of $181.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $148.63 billion. On average, sell-side analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

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.