Amazon.com, Inc. (NASDAQ:AMZN) is Palmer Knight Co’s 3rd Largest Position

Palmer Knight Co trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,731 shares of the e-commerce giant’s stock after selling 553 shares during the quarter. Amazon.com makes up approximately 4.1% of Palmer Knight Co’s portfolio, making the stock its 3rd largest position. Palmer Knight Co’s holdings in Amazon.com were worth $9,266,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMZN. Lakeshore Financial Planning Inc. boosted its position in Amazon.com by 16.2% during the 3rd quarter. Lakeshore Financial Planning Inc. now owns 2,778 shares of the e-commerce giant’s stock worth $518,000 after acquiring an additional 388 shares during the period. Financial Strategies Group Inc. boosted its holdings in shares of Amazon.com by 2.9% during the third quarter. Financial Strategies Group Inc. now owns 48,081 shares of the e-commerce giant’s stock worth $9,017,000 after purchasing an additional 1,367 shares during the period. Bensler LLC grew its position in Amazon.com by 0.4% during the third quarter. Bensler LLC now owns 64,566 shares of the e-commerce giant’s stock valued at $12,031,000 after purchasing an additional 250 shares in the last quarter. Smith Thornton Advisors LLC increased its stake in Amazon.com by 3.9% in the 3rd quarter. Smith Thornton Advisors LLC now owns 5,205 shares of the e-commerce giant’s stock valued at $970,000 after buying an additional 195 shares during the period. Finally, First National Bank & Trust Co. of Newtown lifted its position in Amazon.com by 1.9% in the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 5,261 shares of the e-commerce giant’s stock worth $980,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 price target on shares of Amazon.com in a research note on Monday. Loop Capital raised their price target on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Monness Crespi & Hardt boosted their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Pivotal Research initiated coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $240.67.

Insider Transactions at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.8 %

Shares of AMZN stock opened at $231.15 on Wednesday. The company has a market capitalization of $2.43 trillion, a P/E ratio of 49.50, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $203.67 and a 200 day moving average price of $190.54.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

About Amazon.com

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.