SmartHarvest Portfolios LLC Sells 11,338 Shares of Amazon.com, Inc. $AMZN

SmartHarvest Portfolios LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 24.4% in the first quarter, HoldingsChannel reports. The firm owned 35,187 shares of the e-commerce giant’s stock after selling 11,338 shares during the period. Amazon.com comprises about 3.1% of SmartHarvest Portfolios LLC’s portfolio, making the stock its 5th largest holding. SmartHarvest Portfolios LLC’s holdings in Amazon.com were worth $7,328,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Amazon.com by 10.9% during the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock worth $885,478,000 after buying an additional 397,007 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after buying an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after acquiring an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE raised its holdings in Amazon.com by 5.5% in the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock valued at $6,357,000 after acquiring an additional 1,518 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC bought a new position in Amazon.com during the 4th quarter valued at $2,153,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 0.4%

Shares of Amazon.com stock opened at $242.67 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $254.82 and its 200-day simple moving average is $234.51. The stock has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 29.03, a PEG ratio of 1.80 and a beta of 1.46. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. During the same quarter last year, the business posted $1.59 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Equities research analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current year.

Amazon.com News Roundup

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Analyst Ratings Changes

Several research analysts have weighed in on AMZN shares. Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $280.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Amazon.com from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Arete Research increased their price target on shares of Amazon.com from $301.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Tigress Financial boosted their price objective on Amazon.com from $305.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $325.00 price objective (up from $275.00) on shares of Amazon.com in a research note on Thursday, April 30th. Fifty-seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.79.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 2,363 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the transaction, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total transaction of $239,770.00. Following the completion of the sale, the chief executive officer directly owned 484,527 shares in the company, valued at approximately $116,175,038.79. This trade represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 195,774 shares of company stock valued at $51,643,704 over the last three months. 8.90% of the stock is currently owned by company insiders.

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.