Quantum Financial Advisors LLC Sells 1,063 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Quantum Financial Advisors LLC trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.1% in the first quarter, Holdings Channel.com reports. The fund owned 13,959 shares of the e-commerce giant’s stock after selling 1,063 shares during the quarter. Quantum Financial Advisors LLC’s holdings in Amazon.com were worth $2,656,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. 180 Wealth Advisors LLC increased its position in shares of Amazon.com by 3.0% during the first quarter. 180 Wealth Advisors LLC now owns 93,512 shares of the e-commerce giant’s stock worth $17,792,000 after buying an additional 2,681 shares during the period. Mirador Capital Partners LP boosted its position in shares of Amazon.com by 1.5% during the 1st quarter. Mirador Capital Partners LP now owns 99,801 shares of the e-commerce giant’s stock valued at $18,988,000 after purchasing an additional 1,497 shares in the last quarter. Mechanics Bank Trust Department grew its stake in Amazon.com by 6.9% during the first quarter. Mechanics Bank Trust Department now owns 66,327 shares of the e-commerce giant’s stock worth $12,619,000 after purchasing an additional 4,309 shares during the period. Kaizen Financial Strategies grew its stake in Amazon.com by 0.5% during the first quarter. Kaizen Financial Strategies now owns 17,683 shares of the e-commerce giant’s stock worth $3,364,000 after purchasing an additional 91 shares during the period. Finally, Rhumbline Advisers increased its holdings in Amazon.com by 0.6% in the first quarter. Rhumbline Advisers now owns 17,610,645 shares of the e-commerce giant’s stock worth $3,350,601,000 after purchasing an additional 98,512 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 2,148,694 shares in the company, valued at approximately $432,532,102.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock valued at $20,531,075 over the last quarter. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Royal Bank of Canada cut their target price on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Tigress Financial raised their price target on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Oppenheimer cut their price objective on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.89.

Amazon.com Stock Performance

Shares of AMZN stock opened at $213.24 on Friday. 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 firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 1.50 and a beta of 1.33. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm’s 50-day simple moving average is $194.64 and its two-hundred day simple moving average is $209.13.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Amazon.com’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.