Gradient Investments LLC Lowers Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Gradient Investments LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 6,062 shares of the e-commerce giant’s stock after selling 530 shares during the period. Amazon.com comprises 0.8% of Gradient Investments LLC’s holdings, making the stock its 25th biggest position. Gradient Investments LLC’s holdings in Amazon.com were worth $16,724,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Woodstock Corp lifted its holdings in Amazon.com by 2.2% in the 2nd quarter. Woodstock Corp now owns 182 shares of the e-commerce giant’s stock worth $502,000 after purchasing an additional 4 shares in the last quarter. Pratt Collard Advisory Partners LLC lifted its holdings in Amazon.com by 3.7% in the 1st quarter. Pratt Collard Advisory Partners LLC now owns 139 shares of the e-commerce giant’s stock worth $271,000 after purchasing an additional 5 shares in the last quarter. Ballast Advisors LLC lifted its holdings in Amazon.com by 0.8% in the 1st quarter. Ballast Advisors LLC now owns 624 shares of the e-commerce giant’s stock worth $1,217,000 after purchasing an additional 5 shares in the last quarter. Cortland Associates Inc. MO lifted its holdings in Amazon.com by 0.4% in the 1st quarter. Cortland Associates Inc. MO now owns 1,241 shares of the e-commerce giant’s stock worth $2,420,000 after purchasing an additional 5 shares in the last quarter. Finally, Investors Research Corp lifted its holdings in Amazon.com by 2.3% in the 1st quarter. Investors Research Corp now owns 227 shares of the e-commerce giant’s stock worth $443,000 after purchasing an additional 5 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

AMZN has been the topic of a number of research analyst reports. Tigress Financial reissued a “buy” rating on shares of Amazon.com in a report on Wednesday, April 8th. BMO Capital Markets upped their price objective on Amazon.com from $2,650.00 to $2,850.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Needham & Company LLC initiated coverage on Amazon.com in a report on Wednesday, June 24th. They set a “buy” rating and a $3,200.00 price objective on the stock. Benchmark upped their price objective on Amazon.com from $2,450.00 to $2,650.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Monness Crespi & Hardt raised Amazon.com to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, forty-six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $2,711.74.

NASDAQ:AMZN traded up $13.35 during trading hours on Friday, hitting $3,195.98. 3,423,331 shares of the company were exchanged, compared to its average volume of 4,473,792. The stock has a market capitalization of $1,587.88 billion, a price-to-earnings ratio of 152.10, a PEG ratio of 6.27 and a beta of 1.32. Amazon.com, Inc. has a 52-week low of $1,626.03 and a 52-week high of $3,193.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.08 and a quick ratio of 0.84. The company’s 50 day moving average price is $2,622.41 and its 200-day moving average price is $2,181.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, April 30th. The e-commerce giant reported $5.01 earnings per share for the quarter, missing the consensus estimate of $6.36 by ($1.35). The company had revenue of $75.45 billion for the quarter, compared to analysts’ expectations of $74.15 billion. Amazon.com had a return on equity of 17.83% and a net margin of 3.56%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.09 EPS. On average, equities analysts predict that Amazon.com, Inc. will post 20.08 earnings per share for the current year.

In other Amazon.com news, SVP David Zapolsky sold 352 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $2,300.19, for a total transaction of $809,666.88. Following the completion of the transaction, the senior vice president now directly owns 4,015 shares in the company, valued at $9,235,262.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 6,945 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $2,256.50, for a total transaction of $15,671,392.50. Following the transaction, the chief executive officer now owns 93,105 shares of the company’s stock, valued at $210,091,432.50. The disclosure for this sale can be found here. Insiders sold a total of 9,497 shares of company stock worth $21,605,827 over the last ninety days. Insiders own 16.10% of the company’s stock.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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