Alta Capital Management Lowers stake in Amazon.com (AMZN)

Amazon.com (AMZN) : Alta Capital Management reduced its stake in Amazon.com by 2.71% during the most recent quarter end. The investment management company now holds a total of 934 shares of Amazon.com which is valued at $579,547 after selling 26 shares in Amazon.com , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Amazon.com makes up approximately 0.04% of Alta Capital Management’s portfolio.

Amazon.com closed down -10.31 points or -1.67% at $606.57 with 40,68,767 shares getting traded on Wednesday. Post opening the session at $611.8, the shares hit an intraday low of $601.28 and an intraday high of $615.95 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Empirical Financial Services boosted its stake in AMZN in the latest quarter, The investment management firm added 142 additional shares and now holds a total of 835 shares of Amazon.com which is valued at $518,118. Amazon.com makes up approx 0.12% of Empirical Financial Services’s portfolio.Ferguson Wellman Capital Management Inc boosted its stake in AMZN in the latest quarter, The investment management firm added 59 additional shares and now holds a total of 829 shares of Amazon.com which is valued at $514,395. Amazon.com makes up approx 0.02% of Ferguson Wellman Capital Management Inc’s portfolio. Marathon Asset Management Llp added AMZN to its portfolio by purchasing 17,515 company shares during the most recent quarter which is valued at $10,868,058. Amazon.com makes up approx 0.24% of Marathon Asset Management Llp’s portfolio.Howard Capital Management reduced its stake in AMZN by selling 1,107 shares or 4.57% in the most recent quarter. The Hedge Fund company now holds 23,094 shares of AMZN which is valued at $14,329,827. Amazon.com makes up approx 2.76% of Howard Capital Management’s portfolio.Davis R M Inc boosted its stake in AMZN in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 1,714 shares of Amazon.com which is valued at $1,063,537. Amazon.com makes up approx 0.05% of Davis R M Inc’s portfolio.

On the company’s financial health, Amazon.com reported $1.00 EPS for the quarter, missing the analyst consensus estimate by $ -0.58 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $1.58. The company had revenue of $35747.00 million for the quarter, compared to analysts expectations of $35976.69 million. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Amazon.com. Company shares were Reiterated by Stifel on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 775 from a previous price target of $750 .Amazon.com was Downgraded by Raymond James to ” Outperform” on Mar 22, 2016. Company shares were Upgraded by Canaccord Genuity on Feb 18, 2016 to ” Buy”, Firm has raised the Price Target to $ 750 from a previous price target of $600 .

Amazon.com Inc. (Amazon.com) is an e-commerce company. The Company sells a range of products and services through its Websites. The Company’s products are offered through consumer-facing Websites which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices including Kindle e-readers Fire tablets Fire TVs Echo and Fire phones. Amazon.com operates in two segments: North America and International. The North America segment focuses on retail sales earned through North America-focused Websites. The International segment focuses on the Company’s operations done through its international Websites. It serves developers and enterprises through Amazon Web Services (AWS). It serves authors and independent publishers with Kindle Direct Publishing.

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