Amazon.com, Inc. (NASDAQ:AMZN) Position Cut by Belmont Capital LLC

Belmont Capital LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.7% during the fourth quarter, HoldingsChannel reports. The firm owned 140,404 shares of the e-commerce giant’s stock after selling 13,322 shares during the quarter. Amazon.com comprises 5.0% of Belmont Capital LLC’s holdings, making the stock its 5th largest position. Belmont Capital LLC’s holdings in Amazon.com were worth $30,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accordant Advisory Group Inc grew its stake in shares of Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc grew its stake in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC grew its stake in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Scotiabank cut their target price on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Oppenheimer dropped their price objective on Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Piper Sandler reissued an “overweight” rating and issued a $212.00 price objective (down previously from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. The Goldman Sachs Group dropped their price objective on Amazon.com from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho dropped their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.09.

Amazon.com Stock Performance

Shares of AMZN opened at $211.37 on Wednesday. The firm has a market cap of $2.24 trillion, a PE ratio of 38.22, a P/E/G ratio of 1.50 and a beta of 1.30. 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 stock has a fifty day moving average price of $188.72 and a 200-day moving average price of $208.27. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. This trade represents a 0.49% 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 79,798 shares of company stock worth $17,486,053 in the last 90 days. Insiders own 9.70% of the company’s stock.

Amazon.com Profile

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.