Seaport Global Advisors LLC Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Seaport Global Advisors LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 76.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,774 shares of the e-commerce giant’s stock after selling 9,258 shares during the period. Amazon.com makes up 1.9% of Seaport Global Advisors LLC’s holdings, making the stock its 24th biggest position. Seaport Global Advisors LLC’s holdings in Amazon.com were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMZN. PayPay Securities Corp grew its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Christopher J. Hasenberg Inc raised its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Amazon.com in the first quarter valued at approximately $69,000. Innealta Capital LLC acquired a new position in Amazon.com in the 2nd quarter valued at $77,000. Finally, Abich Financial Wealth Management LLC increased its stake in Amazon.com by 84.7% in the second quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the sale, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by corporate insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $187.83 on Monday. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month 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 company’s 50 day simple moving average is $183.50 and its 200 day simple moving average is $183.54. The firm has a market capitalization of $1.95 trillion, a PE ratio of 52.61, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results 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 analyst estimates 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 4.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Loop Capital upped their price target on shares of Amazon.com from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. DA Davidson restated a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research note on Thursday, October 10th. Wedbush reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research note on Friday, August 2nd. Telsey Advisory Group restated an “outperform” rating and issued a $215.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Finally, UBS Group boosted their price objective on shares of Amazon.com from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

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.