Rehmann Capital Advisory Group Sells 596 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Rehmann Capital Advisory Group cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 21.5% during the second quarter, Holdings Channel reports. The firm owned 2,180 shares of the e-commerce giant’s stock after selling 596 shares during the period. Rehmann Capital Advisory Group’s holdings in Amazon.com were worth $2,110,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Amazon.com during the fourth quarter worth approximately $2,736,365,000. State Street Corp boosted its stake in Amazon.com by 1.1% in the first quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock worth $14,667,392,000 after buying an additional 186,756 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Amazon.com during the first quarter worth approximately $157,189,000. Canada Pension Plan Investment Board boosted its stake in Amazon.com by 401.7% in the first quarter. Canada Pension Plan Investment Board now owns 158,030 shares of the e-commerce giant’s stock worth $140,100,000 after buying an additional 126,534 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Amazon.com by 11.9% in the first quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock worth $783,286,000 after buying an additional 93,757 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Amazon.com, Inc. (NASDAQ AMZN) traded up 0.07% during mid-day trading on Friday, reaching $987.58. 2,730,308 shares of the company’s stock traded hands. Amazon.com, Inc. has a 12-month low of $710.10 and a 12-month high of $1,083.31. The stock has a 50-day moving average price of $999.29 and a 200-day moving average price of $918.57. The stock has a market capitalization of $474.41 billion, a PE ratio of 251.16 and a beta of 1.48.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by $1.00. Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. The company had revenue of $37.96 billion for the quarter, compared to the consensus estimate of $37.18 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post $3.84 EPS for the current year.

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AMZN has been the topic of a number of recent analyst reports. Instinet cut their price target on shares of Amazon.com from $1,100.00 to $975.00 and set a “buy” rating on the stock in a report on Friday, June 16th. Loop Capital reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, June 8th. Vetr cut shares of Amazon.com from a “strong-buy” rating to a “buy” rating and set a $1,132.46 price target on the stock. in a report on Tuesday, July 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $970.00 price target on shares of Amazon.com in a report on Friday, April 28th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $1,058.27.

In related news, Director Tom A. Alberg sold 735 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $952.80, for a total value of $700,308.00. Following the completion of the transaction, the director now directly owns 21,120 shares in the company, valued at approximately $20,123,136. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey A. Wilke sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $949.49, for a total transaction of $1,898,980.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $9,494,900. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,915 shares of company stock valued at $12,698,264. Company insiders own 17.70% of the company’s stock.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.

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