Legacy Capital Group California Inc. Sells 5,776 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Legacy Capital Group California Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 55.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,667 shares of the e-commerce giant’s stock after selling 5,776 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Amazon.com were worth $1,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Accordant Advisory Group Inc lifted its position in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC lifted its position in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares in the last quarter. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter worth about $45,000. Quattro Financial Advisors LLC lifted its position in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after buying an additional 45 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of Amazon.com in the third quarter worth about $56,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $270.00 target price on shares of Amazon.com in a research report on Friday, February 7th. HSBC upped their price objective on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wedbush restated an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Robert W. Baird upped their price objective on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $260.65.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 19,212 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now owns 49,950 shares of the company’s stock, valued at $10,864,125. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,298 shares of company stock worth $22,871,828 in the last 90 days. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $196.21 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a fifty day moving average price of $218.90 and a 200-day moving average price of $207.97. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.08 trillion, a PE ratio of 35.48, a P/E/G ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data 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%. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.