The David R. Rahn & Associates Inc. reaches $548,000 position of Amazon.com Inc. (AMZN)

The David R. Rahn & Associates Inc. reaches $548,000 position  of Amazon.com Inc. (AMZN)

David R. Rahn & Associates Inc. cut its position in Amazon.com Inc. (NASDAQ:AMZN) by 60.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 766 shares of the e-commerce giant’s stock after selling 1,189 shares during the period. David R. Rahn & Associates Inc.’s holdings in Amazon.com were worth $548,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Kistler Tiffany Companies LLC increased its stake in shares of Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock valued at $108,000 after buying an additional 136 shares during the period. West Oak Capital LLC increased its stake in shares of Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock valued at $155,000 after buying an additional 111 shares during the period. Perkins Coie Trust Co increased its stake in shares of Amazon.com by 200.0% in the second quarter. Perkins Coie Trust Co now owns 225 shares of the e-commerce giant’s stock valued at $161,000 after buying an additional 150 shares during the period. Capital Asset Advisory Services LLC purchased a new stake in shares of Amazon.com during the second quarter valued at approximately $205,000. Finally, Hengehold Capital Management LLC purchased a new stake in shares of Amazon.com during the second quarter valued at approximately $214,000. 65.44% of the stock is owned by institutional investors.

Shares of Amazon.com Inc. (NASDAQ:AMZN) traded down 0.26% on Friday, reaching $839.43. 2,426,228 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $789.64 and its 200-day moving average price is $718.27. Amazon.com Inc. has a 52-week low of $474.00 and a 52-week high of $847.21. The stock has a market cap of $397.95 billion, a P/E ratio of 208.76 and a beta of 1.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.67. The business earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. Equities analysts forecast that Amazon.com Inc. will post $5.85 EPS for the current fiscal year.

Several equities research analysts recently commented on AMZN shares. Needham & Company LLC restated a “hold” rating on shares of Amazon.com in a research report on Monday, June 27th. Wedbush restated an “outperform” rating and issued a $900.00 price target on shares of Amazon.com in a research report on Friday, September 30th. Piper Jaffray Cos. restated a “buy” rating and issued a $800.00 price target on shares of Amazon.com in a research report on Sunday, July 31st. Pacific Crest restated a “buy” rating and issued a $820.00 price target on shares of Amazon.com in a research report on Friday, July 15th. Finally, Bank of America Corp. restated a “buy” rating and issued a $840.00 price target on shares of Amazon.com in a research report on Sunday, July 17th. Five analysts have rated the stock with a hold rating, forty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $891.31.

In other Amazon.com news, CEO Andrew R. Jassy sold 14,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the sale, the chief executive officer now owns 68,141 shares of the company’s stock, valued at approximately $54,512,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shelley Reynolds sold 625 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $770.10, for a total transaction of $481,312.50. Following the sale, the vice president now directly owns 6,519 shares of the company’s stock, valued at approximately $5,020,281.90. The disclosure for this sale can be found here. 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’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).

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