McLean Asset Management Corp Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

McLean Asset Management Corp decreased its position in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,663 shares of the e-commerce giant’s stock after selling 235 shares during the period. Amazon.com makes up 0.6% of McLean Asset Management Corp’s investment portfolio, making the stock its 27th largest holding. McLean Asset Management Corp’s holdings in Amazon.com were worth $1,931,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at about $30,000. Strid Group LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $43,000. Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter valued at about $46,000. Steph & Co. purchased a new stake in shares of Amazon.com in the first quarter worth about $65,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Amazon.com in the 1st quarter worth about $69,000. Hedge funds and other institutional investors own 72.20% of the company’s shares.

Analysts set new price targets

AMZN has been the subject of several analyst reports. Needham & Company LLC boosted their price objective on shares of Amazon.com from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America cut their price target on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Tigress Financial boosted their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, 30 May. One equities research analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Amazon.com has a consensus rating of “Buy” and an average target price of $221.69, according to MarketBeat.com.

See the latest inventory analysis on Amazon.com

Amazon.com trading down 2.2%

NASDAQ:AMZN opened at $176.13 on Friday. The firm has a market cap of $1.83 trillion, a P/E ratio of 49.34, a PEG ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07, and a quick ratio of 0.87. Amazon.com, Inc. it has a one year low of $118.35 and a one year high of $201.20. The company’s 50-day simple moving average is $183.91, and its 200-day simple moving average is $180.85.

Indoor activity

In related news, insider Jeffrey P. Bezos sold 1,228,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $200.36, for a total value of $246,241,037.48. Following the sale, the insider now owns 930,696,284 shares in the company, valued at approximately $186,474,307,462.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the completion of the transaction, the senior vice president now directly owns 59,500 shares in the company, valued at $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of Amazon.com stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $200.36, for a total value of $246,241,037.48. Following the completion of the transaction, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,059,152 shares of company stock worth $1,212,453,840. Insiders own 10.80% of the company’s shares.

About Amazon.com

(Free report)

Amazon.com, Inc engages in the retail sale of consumer products, advertising and subscription services through online and brick-and-mortar stores in North America and internationally. The company operates through three segments: North America, International and Amazon Web Services (AWS). It also makes and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink and eero; and develops and produces media content.

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