McLean Asset Management Corp cut its position in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 2.4% in the 2nd quarter, according to the firm in its most recent 13F filing with the SEC. The fund owned 9,663 shares of the e-commerce giant after selling 235 shares during the period. Amazon.com accounts for 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 during the 4th quarter worth approximately $30,000. Strid Group LLC purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $43,000. Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $46,000. Steph & Co. purchased a new stake in shares of Amazon.com during the 1st quarter worth approximately $65,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in Amazon.com during the 1st quarter worth approximately $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 increased their price target 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 affirmed an “outperform” rating and gave the stock a $215.00 price target in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the company in a report on Friday, August 2nd. Bank of America lowered 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 raised 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, May 30th. One equities analyst has rated the stock with a hold rating, forty have given a buy rating, and one has given the company a strong buy rating. Amazon.com has a consensus rating of “Buy” and an average price objective of $221.69, according to MarketBeat.com.

Check out our latest stock analysis on Amazon.com

Amazon.com down 2.2%

NASDAQ:AMZN opened Friday at $176.13. The company has a market cap of $1.83 trillion, a price/earnings 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. 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.

Insider 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 shares were 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 of the company’s stock, valued at approximately $186,474,307,462.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link. In other news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were 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 of the company’s stock, valued at $11,602,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of Amazon.com stock in a transaction dated Monday, July 8th. The shares were 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. In the last ninety days, insiders have sold 6,059,152 shares of the company’s 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 retailing of consumer products, advertising, and subscriptions 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.

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