Beacon Pointe Advisors LLC Has $121.90 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Beacon Pointe Advisors LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 555,629 shares of the e-commerce giant’s stock after selling 19,428 shares during the period. Amazon.com comprises approximately 1.4% of Beacon Pointe Advisors LLC’s holdings, making the stock its 12th largest holding. Beacon Pointe Advisors LLC’s holdings in Amazon.com were worth $121,899,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Amazon.com in the 4th quarter worth approximately $806,000. Second Half Financial Partners LLC increased its holdings in Amazon.com by 5.6% during the 4th quarter. Second Half Financial Partners LLC now owns 6,201 shares of the e-commerce giant’s stock valued at $1,360,000 after purchasing an additional 327 shares in the last quarter. Mendel Capital Management LLC increased its holdings in Amazon.com by 2.7% during the 4th quarter. Mendel Capital Management LLC now owns 5,820 shares of the e-commerce giant’s stock valued at $1,277,000 after purchasing an additional 155 shares in the last quarter. Whalerock Point Partners LLC increased its holdings in Amazon.com by 1.5% during the 4th quarter. Whalerock Point Partners LLC now owns 72,573 shares of the e-commerce giant’s stock valued at $15,922,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Shorepoint Capital Partners LLC increased its holdings in Amazon.com by 2.4% during the 4th quarter. Shorepoint Capital Partners LLC now owns 22,186 shares of the e-commerce giant’s stock valued at $4,867,000 after purchasing an additional 527 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 4,784 shares of Amazon.com stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $205.05, for a total transaction of $980,959.20. Following the completion of the transaction, the chief executive officer now owns 514,150 shares in the company, valued at approximately $105,426,457.50. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,620 shares of Amazon.com stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $223.14, for a total value of $3,262,306.80. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $10,933,860. The trade was a 22.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,081 shares of company stock worth $17,421,044. Company insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMZN shares. Phillip Securities cut Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Oppenheimer decreased their price objective on Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Morgan Stanley decreased their price objective on Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $244.09.

Amazon.com Price Performance

NASDAQ:AMZN opened at $206.16 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock’s 50-day simple moving average is $189.48 and its 200 day simple moving average is $208.82. The company has a market cap of $2.19 trillion, a P/E ratio of 37.28, a P/E/G ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter last year, the company posted $0.98 earnings per share. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.