Financial services

Prospera Financial Services Inc. Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)


Prospera Financial Services Inc. reduced its holdings of Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) stock by 9.8% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 7,475 shares of the e-commerce giant after selling 810 shares during the quarter. Amazon.com accounts for approximately 1.0% of Prospera Financial Services Inc’s holdings, making it its 11th largest holding. Prospera Financial Services Inc’s holdings in Amazon.com were worth $24,367,000 when it last filed with the SEC.

Several other hedge funds have also recently changed their positions in the company. Mokosak Advisory Group LLC increased its position in Amazon.com shares by 5.8% during the 4th quarter. Mokosak Advisory Group LLC now owns 73 shares of the e-commerce giant valued at $244,000 after buying 4 more shares last quarter. Palisades Hudson Asset Management LP raised its position in Amazon.com by 0.6% in the fourth quarter. Palisades Hudson Asset Management LP now owns 673 shares of the e-commerce giant worth $2,244,000 after buying 4 additional shares during the period. BHK Investment Advisors LLC raised its position in Amazon.com by 1.1% in Q4. BHK Investment Advisors LLC now owns 375 shares of the e-commerce giant worth $1,250,000 after buying 4 more shares during the period. Navalign LLC increased its position in Amazon.com by 0.7% in the 4th quarter. Navalign LLC now owns 575 shares of the e-commerce giant worth $1,917,000 after buying 4 additional shares during the period. Finally, Wade Financial Advisory Inc increased its position in Amazon.com by 1.5% in the 4th quarter. Wade Financial Advisory Inc now owns 279 shares of the e-commerce giant worth $930,000 after buying 4 more shares during the period. 72.51% of the shares are currently held by hedge funds and other institutional investors.

Analysts set new price targets

AMZN has been the subject of a number of recent analyst reports. Tigress Financial reissued a “buy” rating and posted a price target of $232.00 on Amazon.com stock in a research report on Wednesday, June 29. Stifel Nicolaus cut his price target on Amazon.com shares from $190.00 to $185.00 in a Friday, July 15 research report. Morgan Stanley cut its price target on Amazon.com shares from $210.00 to $190.00 in a Friday, April 29 research report. Canaccord Genuity Group raised its target price on Amazon.com shares from $185.00 to $200.00 in a Friday, July 29 research note. Finally, Raymond James lowered his price target on Amazon.com shares from $197.50 to $165.00 in a Friday, April 29 research note. Two analysts gave the stock a sell rating, two issued a hold rating and thirty-seven issued a buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $177.99.

Insider activity

In other news, CEO David H. Clark sold 2,270 shares in a trade dated Monday, May 23. The stock was sold at an average price of $2,169.22, for a total value of $4,924,129.40. As a result of the transaction, the CEO now directly owns 6,695 shares of the company, valued at $14,522,927.90. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. In other news, CEO David H. Clark sold 2,270 shares in a trade dated Monday, May 23. The stock was sold at an average price of $2,169.22, for a total value of $4,924,129.40. As a result of the transaction, the CEO now directly owns 6,695 shares of the company, valued at $14,522,927.90. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CEO Andrew R. Jassy sold 1,181 shares of the company in a trade dated Monday, May 16. The stock was sold at an average price of $2,262.00, for a total value of $2,671,422.00. Following the sale, the CEO now directly owns 92,781 shares of the company, valued at $209,870,622. The disclosure of this sale can be found here. In the past three months, insiders have sold 4,803 shares of the company valued at $10,528,337. Insiders of the company hold 12.70% of the shares of the company.

Amazon.com inventory up 2.1%

Amazon.com stock opened Friday at $143.55. The company’s 50-day simple moving average is $119.07 and its two-hundred-day simple moving average is $134.27. The company has a debt ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.95. The company has a market capitalization of $1.46 trillion, a PE ratio of 128.69, a PEG ratio of 6.40 and a beta of 1.33. Amazon.com, Inc. has a fifty-two week low of $101.26 and a fifty-two week high of $188.11.

Amazon.com (NASDAQ:AMZN – Get Rating) last reported quarterly earnings data on Thursday, July 28. The e-commerce giant reported ($0.20) earnings per share for the quarter, missing analyst consensus estimates of $0.15 per ($0.35). The company posted revenue of $121.23 billion in the quarter, versus analyst estimates of $119.16 billion. Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The company’s revenue for the quarter increased 7.2% year over year. In the same period a year earlier, the company posted earnings per share of $0.76. Stock analysts expect Amazon.com, Inc. to post EPS of 0.97 for the current year.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The Company operates through three segments: North America, International and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

Further reading

Institutional ownership by quarter for Amazon.com (NASDAQ:AMZN)



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