Atlantic Edge Private Wealth Management LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Atlantic Edge Private Wealth Management LLC reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,102 shares of the e-commerce giant’s stock after selling 94 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Amazon.com were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Wealthcare Capital Partners LLC purchased a new stake in Amazon.com during the 4th quarter worth $1,236,000. Sovran Advisors LLC acquired a new position in shares of Amazon.com during the fourth quarter worth about $7,183,000. Compound Global Advisors LLC purchased a new stake in shares of Amazon.com in the fourth quarter worth about $1,288,000. Stonebridge Financial Group LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $1,930,000. Finally, Bonfire Financial purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $230,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $199.25 on Monday. The firm’s 50 day moving average is $224.11 and its two-hundred day moving average is $206.99. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 36.03, a PEG ratio of 1.50 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Ratings Changes

AMZN has been the subject of a number of analyst reports. Tigress Financial upped their price target on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Moffett Nathanson raised their price target on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. TD Cowen boosted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Wolfe Research upped their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, DA Davidson lifted their target price on Amazon.com from $235.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.65.

Insider Activity

In other news, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,298 shares of company stock valued at $22,871,828. Company insiders own 10.80% of the company’s stock.

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.