MinichMacGregor Wealth Management LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

MinichMacGregor Wealth Management LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,306 shares of the e-commerce giant’s stock after selling 428 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in Amazon.com were worth $362,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new stake in Amazon.com in the first quarter worth about $228,000. Krane Funds Advisors LLC lifted its stake in Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of Amazon.com during the first quarter valued at approximately $258,000. My Personal CFO LLC bought a new stake in shares of Amazon.com during the first quarter valued at approximately $261,000. Finally, Worth Asset Management LLC bought a new stake in shares of Amazon.com during the first quarter valued at approximately $191,000. Institutional investors own 57.64% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total transaction of $375,200.00. Following the completion of the transaction, the chief executive officer now owns 560,298 shares in the company, valued at approximately $52,555,952.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Shelley Reynolds sold 3,500 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total transaction of $375,200.00. Following the sale, the chief executive officer now directly owns 560,298 shares of the company’s stock, valued at approximately $52,555,952.40. The disclosure for this sale can be found here. Insiders sold a total of 71,394 shares of company stock worth $6,994,626 in the last 90 days. Insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Credit Suisse Group lifted their price target on shares of Amazon.com from $142.00 to $171.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Piper Sandler lifted their price target on shares of Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Oppenheimer lifted their price target on shares of Amazon.com from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Wedbush decreased their price target on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, Telsey Advisory Group cut their price objective on shares of Amazon.com from $140.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.72.

Amazon.com Trading Down 1.1 %

Shares of Amazon.com stock opened at $98.95 on Friday. The firm has a 50-day simple moving average of $97.01 and a two-hundred day simple moving average of $101.53. The company has a market cap of $1.01 trillion, a P/E ratio of -369.20, a price-to-earnings-growth ratio of 3.97 and a beta of 1.25. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.12). Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The company had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. During the same quarter last year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

About Amazon.com

(Get Rating)

Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.