Pacific Sage Partners LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Pacific Sage Partners LLC decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 65,196 shares of the e-commerce giant’s stock after selling 275 shares during the quarter. Amazon.com accounts for about 2.8% of Pacific Sage Partners LLC’s holdings, making the stock its 7th biggest holding. Pacific Sage Partners LLC’s holdings in Amazon.com were worth $12,404,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth $27,266,582,000. GAMMA Investing LLC boosted its position in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors grew its stake in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. grew its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $226.35 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The business’s 50 day moving average is $211.52 and its two-hundred day moving average is $208.50. The company has a market capitalization of $2.40 trillion, a P/E ratio of 36.86, a P/E/G ratio of 1.69 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent analyst reports. Rosenblatt Securities raised their price target on shares of Amazon.com from $287.00 to $288.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Royal Bank Of Canada lowered their target price on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company upped their price target on Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Cantor Fitzgerald increased their price objective on Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.42.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the transaction, the chief executive officer owned 2,148,694 shares of the company’s stock, valued at approximately $432,532,102.20. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,602,037 shares of company stock worth $3,044,172,641. Company insiders own 10.80% of the company’s stock.

Amazon.com Company 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.