Echo Wealth Management LLC Sells 280 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Echo Wealth Management LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,882 shares of the e-commerce giant’s stock after selling 280 shares during the period. Amazon.com makes up 1.3% of Echo Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Echo Wealth Management LLC’s holdings in Amazon.com were worth $1,602,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Ridgecrest Wealth Partners LLC grew its stake in Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. increased its stake in Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after acquiring an additional 56 shares during the last quarter. Echo45 Advisors LLC raised its holdings in shares of Amazon.com by 0.9% in the 1st quarter. Echo45 Advisors LLC now owns 6,619 shares of the e-commerce giant’s stock worth $1,194,000 after purchasing an additional 59 shares during the period. ShoreHaven Wealth Partners LLC lifted its stake in shares of Amazon.com by 1.9% in the 4th quarter. ShoreHaven Wealth Partners LLC now owns 3,234 shares of the e-commerce giant’s stock valued at $491,000 after purchasing an additional 60 shares in the last quarter. Finally, O Dell Group LLC grew its holdings in shares of Amazon.com by 0.5% during the 4th quarter. O Dell Group LLC now owns 13,581 shares of the e-commerce giant’s stock worth $2,064,000 after purchasing an additional 61 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America raised their price target on shares of Amazon.com from $185.00 to $204.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Raymond James upped their price target on shares of Amazon.com from $185.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. Telsey Advisory Group restated an “outperform” rating and set a $200.00 price objective on shares of Amazon.com in a research note on Thursday. Moffett Nathanson reiterated a “buy” rating and set a $228.00 target price on shares of Amazon.com in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price target on Amazon.com from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $205.13.

Amazon.com Price Performance

NASDAQ AMZN traded up $5.95 on Friday, reaching $179.62. 43,846,973 shares of the stock traded hands, compared to its average volume of 36,227,088. Amazon.com, Inc. has a 12 month low of $101.15 and a 12 month high of $189.77. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 61.94, a P/E/G ratio of 1.50 and a beta of 1.16. The firm’s fifty day simple moving average is $177.99 and its 200 day simple moving average is $158.59. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.19. The business had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. As a group, research analysts predict that Amazon.com, Inc. will post 4.11 EPS for the current fiscal year.

Insider Activity

In related news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $20,239,226.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total value of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,214,010 shares of company stock worth $5,505,889,146. Corporate insiders own 10.30% of the company’s stock.

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.