Leo Wealth LLC Sells 46,214 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Leo Wealth LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 32.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,315 shares of the e-commerce giant’s stock after selling 46,214 shares during the quarter. Amazon.com makes up about 2.6% of Leo Wealth LLC’s portfolio, making the stock its 7th biggest holding. Leo Wealth LLC’s holdings in Amazon.com were worth $17,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its position in shares of Amazon.com by 1.1% during the 1st quarter. Dakota Wealth Management now owns 413,035 shares of the e-commerce giant’s stock valued at $78,584,000 after acquiring an additional 4,492 shares during the last quarter. LJI Wealth Management LLC boosted its position in shares of Amazon.com by 3.6% during the 1st quarter. LJI Wealth Management LLC now owns 13,405 shares of the e-commerce giant’s stock valued at $2,551,000 after acquiring an additional 467 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of Amazon.com by 1.1% during the 1st quarter. Sumitomo Life Insurance Co. now owns 184,765 shares of the e-commerce giant’s stock valued at $35,153,000 after acquiring an additional 2,066 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Amazon.com by 269.6% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,677,131 shares of the e-commerce giant’s stock valued at $319,091,000 after acquiring an additional 1,223,351 shares during the last quarter. Finally, Baer Investment Advisory LLC boosted its position in shares of Amazon.com by 0.6% during the 1st quarter. Baer Investment Advisory LLC now owns 25,631 shares of the e-commerce giant’s stock valued at $5,372,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent analyst reports. Citizens Jmp initiated coverage on shares of Amazon.com in a research report on Thursday, July 10th. They issued a “strong-buy” rating on the stock. Piper Sandler upped their target price on shares of Amazon.com from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Evercore ISI decreased their target price on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Wedbush upped their target price on shares of Amazon.com from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald upped their target price on shares of Amazon.com from $260.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $262.45.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the sale, the insider owned 897,722,088 shares in the company, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 25,101,037 shares of company stock valued at $5,674,726,368. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

AMZN opened at $221.30 on Tuesday. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. The stock’s 50 day moving average price is $219.94 and its two-hundred day moving average price is $208.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.