Wallace Advisory Group LLC Cuts Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Wallace Advisory Group LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,331 shares of the e-commerce giant’s stock after selling 364 shares during the quarter. Amazon.com makes up 3.8% of Wallace Advisory Group LLC’s portfolio, making the stock its 3rd biggest position. Wallace Advisory Group LLC’s holdings in Amazon.com were worth $5,282,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Granite FO LLC bought a new position in Amazon.com in the 2nd quarter worth $3,527,000. Coastal Bridge Advisors LLC raised its stake in Amazon.com by 4.4% in the second quarter. Coastal Bridge Advisors LLC now owns 22,443 shares of the e-commerce giant’s stock worth $4,337,000 after buying an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after buying an additional 14,766 shares during the period. NewEdge Advisors LLC boosted its position in Amazon.com by 11.8% during the 2nd quarter. NewEdge Advisors LLC now owns 1,094,051 shares of the e-commerce giant’s stock valued at $211,426,000 after acquiring an additional 115,750 shares in the last quarter. Finally, Northeast Financial Consultants Inc grew its holdings in shares of Amazon.com by 11.3% during the 2nd quarter. Northeast Financial Consultants Inc now owns 295,808 shares of the e-commerce giant’s stock worth $57,165,000 after acquiring an additional 30,081 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

AMZN has been the topic of several research reports. TD Securities lifted their price target on Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of Amazon.com in a research note on Tuesday, October 15th. UBS Group lifted their price target on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Wolfe Research assumed coverage on shares of Amazon.com in a report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock worth $9,877,423 over the last three months. 10.80% of the stock is owned by insiders.

Amazon.com Trading Up 0.8 %

Shares of AMZN stock opened at $187.83 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The stock’s 50-day moving average price is $183.50 and its 200-day moving average price is $183.54.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Equities research analysts predict that Amazon.com, Inc. will post 4.85 EPS 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.