Cranbrook Wealth Management LLC Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cranbrook Wealth Management LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,546 shares of the e-commerce giant’s stock after selling 600 shares during the period. Cranbrook Wealth Management LLC’s holdings in Amazon.com were worth $1,265,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Capital Research Global Investors increased its position in 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 during the period. Bank of New York Mellon Corp raised its stake in shares of Amazon.com by 0.4% during the 2nd 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 buying an additional 289,532 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after buying an additional 295,132 shares during the period. Finally, Capital International Investors boosted its stake in shares of Amazon.com by 7.4% in the first quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock valued at $7,642,732,000 after buying an additional 2,932,192 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Loop Capital increased their price objective on Amazon.com from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group decreased their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Pivotal Research started coverage on shares of Amazon.com in a research report on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Finally, Roth Mkm upped their price target on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of the 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 sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the company’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 sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,355 shares of company stock worth $9,877,423 in the last three months. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $187.53 on Friday. The company has a market cap of $1.95 trillion, a P/E ratio of 52.53, a P/E/G ratio of 1.38 and a beta of 1.14. The firm’s 50 day moving average is $181.54 and its two-hundred day moving average is $183.35. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Analysts expect that Amazon.com, Inc. will post 4.85 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.