Gold Investment Management Ltd. Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Gold Investment Management Ltd. lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,431 shares of the e-commerce giant’s stock after selling 248 shares during the quarter. Gold Investment Management Ltd.’s holdings in Amazon.com were worth $2,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Collective Family Office LLC grew its holdings in Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after buying an additional 819 shares during the period. Phillips Wealth Planners LLC grew its holdings in Amazon.com by 9.2% in the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after buying an additional 224 shares during the period. Bayesian Capital Management LP purchased a new stake in Amazon.com in the 4th quarter valued at about $5,926,000. Clearstead Trust LLC grew its holdings in Amazon.com by 25.8% in the 4th quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock valued at $9,958,000 after buying an additional 13,454 shares during the period. Finally, Summa Corp. purchased a new stake in Amazon.com in the 4th quarter valued at about $1,506,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial lifted their price target on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Amazon.com in a report on Thursday, September 12th. Morgan Stanley decreased their target price on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Wolfe Research began coverage on Amazon.com in a report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 target price for the company. One research analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Buy” and an average target price of $222.49.

Amazon.com Trading Down 0.2 %

Shares of AMZN stock opened at $186.43 on Thursday. The firm 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. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The firm’s 50-day simple moving average is $178.71 and its 200-day simple moving average is $181.83.

Amazon.com (NASDAQ:AMZN) last posted its 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 firm had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, equities 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.