Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 120,558 shares of the e-commerce giant’s stock after selling 1,146 shares during the period. Amazon.com comprises about 5.8% of Progressive Investment Management Corp’s investment portfolio, making the stock its 3rd biggest holding. Progressive Investment Management Corp’s holdings in Amazon.com were worth $22,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. PayPay Securities Corp increased its stake in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in shares of Amazon.com in the 3rd quarter worth $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter valued at about $45,000. Christopher J. Hasenberg Inc increased its stake in shares of Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new position in Amazon.com during the third quarter worth about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $219.39 on Wednesday. The company has a market cap of $2.31 trillion, a P/E ratio of 46.98, a P/E/G ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week 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 business has a fifty day simple moving average of $210.97 and a 200-day simple moving average of $193.40.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Amazon.com’s revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the sale, the chief executive officer now directly owns 524,567 shares in the company, valued at $110,159,070. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of analyst reports. Mizuho lifted their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Pivotal Research started coverage on Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 price target on the stock. Evercore ISI increased their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Maxim Group raised their target price on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Moffett Nathanson upped their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Profile

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.