Cannon Advisors Inc. Sells 1,543 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cannon Advisors Inc. reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,129 shares of the e-commerce giant’s stock after selling 1,543 shares during the quarter. Amazon.com makes up approximately 3.4% of Cannon Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Cannon Advisors Inc.’s holdings in Amazon.com were worth $3,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter valued at about $27,000. Accordant Advisory Group Inc lifted its stake in 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 acquiring an additional 100 shares during the last quarter. Compass Planning Associates Inc purchased a new position in Amazon.com in the fourth quarter valued at $51,000. Quattro Financial Advisors LLC lifted its stake in Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Amazon.com in the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AMZN shares. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Wolfe Research upped their target price on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Stifel Nicolaus dropped their target price on shares of Amazon.com from $275.00 to $248.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Finally, Oppenheimer dropped their target price on Amazon.com from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.50.

Amazon.com Trading Up 3.1 %

NASDAQ:AMZN opened at $190.20 on Friday. The business’s 50 day moving average is $190.94 and its two-hundred day moving average is $207.76. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a market cap of $2.02 trillion, a PE ratio of 34.39, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

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

Insider Transactions at Amazon.com

In other 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 transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,798 shares of company stock worth $23,341,803. Company insiders own 10.80% of the company’s stock.

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.