Fri Sep 20 09:12:52 UTC 2024: ## Amazon Stock Sees Mixed Activity: Institutional Investors Adjust Holdings While Insiders Sell

**New York, NY – September 20, 2024** – Amazon.com, Inc. (NASDAQ:AMZN) saw a mixed bag of activity in the second quarter, with some institutional investors adjusting their holdings while insiders continue to sell shares.

Walkner Condon Financial Advisors LLC, for example, reduced its stake in the e-commerce giant by 20% during the period, selling 2,711 shares to bring its total holdings to 10,869 shares worth approximately $2,097,000.

However, other investors showed a more bullish outlook. Cooksen Wealth LLC initiated a new position in Amazon during the fourth quarter worth $30,000, while Christopher J. Hasenberg Inc. increased its holding by a substantial 650% during the second quarter. Clarity Asset Management Inc. and Steph & Co. also made new investments in Amazon during the fourth and first quarters, respectively.

Despite this interest, insider selling continued. Vice President Shelley Reynolds sold 3,791 shares on August 21st, bringing her total holdings to 121,461 shares. Similarly, Jeffrey P. Bezos, the company’s founder, sold 3,085,116 shares on July 5th.

Overall, institutional investors currently own 72.20% of Amazon’s stock, while insiders hold 10.80%.

**Brokerage Opinions Remain Positive**

Despite recent insider selling, several brokerages remain positive on Amazon’s future. Cantor Fitzgerald initiated coverage with an “overweight” rating and a $230.00 target price. Rosenblatt Securities and JMP Securities also raised their target prices. However, Bank of America and Itau BBA Securities lowered their price targets and ratings.

**Market Performance**

Shares of Amazon opened at $189.87 on Friday, with a market capitalization of $1.98 trillion. The stock has a PE ratio of 53.18 and a beta of 1.14.

Analysts surveyed by MarketBeat.com maintain a “Buy” consensus rating for Amazon, with an average target price of $222.49.

This mixed activity suggests a period of uncertainty for Amazon, with some investors expressing cautious optimism while others appear to be taking profits. It remains to be seen whether the company can maintain its growth trajectory in the coming quarters.

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