Elevation Wealth Partners LLC Has $1.16 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Elevation Wealth Partners LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 13.8% in the first quarter, HoldingsChannel reports. The fund owned 6,097 shares of the e-commerce giant’s stock after selling 977 shares during the period. Elevation Wealth Partners LLC’s holdings in Amazon.com were worth $1,160,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares during the period. FMR LLC lifted its stake in Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after acquiring an additional 1,725,664 shares in the last quarter. Geode Capital Management LLC lifted its stake in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after acquiring an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the last quarter. Finally, Norges Bank bought a new stake in Amazon.com in the 4th quarter valued at about $27,266,582,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

AMZN opened at $212.10 on Friday. The business has a fifty day moving average of $195.47 and a 200 day moving average of $209.16. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.25 trillion, a P/E ratio of 38.35, a PEG ratio of 1.50 and a beta of 1.33.

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

Analyst Ratings Changes

A number of research analysts have weighed in on AMZN shares. Wall Street Zen lowered Amazon.com from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Scotiabank decreased their target price on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Benchmark restated a “buy” rating and set a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Royal Bank of Canada dropped their price objective on Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Mizuho lowered their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $244.89.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now owns 5,465 shares of the company’s stock, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,037 shares of company stock worth $20,531,075. 9.70% of the stock is owned by insiders.

Amazon.com 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.