Procyon Advisors LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 212,952 shares of the e-commerce giant’s stock after buying an additional 16,141 shares during the quarter. Amazon.com accounts for about 3.0% of Procyon Advisors LLC’s holdings, making the stock its 3rd biggest position. Procyon Advisors LLC’s holdings in Amazon.com were worth $46,719,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Parnassus Investments LLC grew its stake in shares of Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares during the last quarter. State Street Corp increased its holdings in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC raised its position in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in Amazon.com by 13,606.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after buying an additional 3,903,889 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.
Amazon.com Stock Down 1.0 %
Amazon.com stock opened at $234.64 on Friday. The firm has a 50 day moving average price of $222.30 and a 200-day moving average price of $198.30. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $241.77. The company has a market capitalization of $2.47 trillion, a P/E ratio of 50.24, a P/E/G ratio of 1.31 and a beta of 1.14.
Insider Transactions at Amazon.com
In related news, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,027,340 shares of company stock worth $1,252,456,773. 10.80% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Benchmark upped their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Susquehanna lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Tigress Financial upped their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $249.46.
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.
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