Parsons Capital Management Inc. RI Sells 233 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Parsons Capital Management Inc. RI trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,585 shares of the e-commerce giant’s stock after selling 233 shares during the period. Amazon.com comprises about 3.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 5th biggest position. Parsons Capital Management Inc. RI’s holdings in Amazon.com were worth $41,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its position in Amazon.com by 4.3% in the 4th quarter. State Street Corp now owns 17,021,616 shares of the e-commerce giant’s stock worth $56,755,855,000 after purchasing an additional 698,970 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Amazon.com by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,193,360 shares of the e-commerce giant’s stock valued at $23,917,115,000 after acquiring an additional 195,716 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Amazon.com by 14.1% during the 4th quarter. Capital Research Global Investors now owns 4,574,546 shares of the e-commerce giant’s stock valued at $15,253,179,000 after acquiring an additional 564,699 shares in the last quarter. Norges Bank acquired a new stake in shares of Amazon.com during the 4th quarter valued at about $14,053,756,000. Finally, Castleview Partners LLC acquired a new stake in shares of Amazon.com during the 4th quarter valued at about $1,143,000. 72.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Loop Capital decreased their target price on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating on the stock in a research report on Friday, May 27th. TheStreet lowered shares of Amazon.com from a “b” rating to a “c+” rating in a research report on Thursday, April 28th. Redburn Partners initiated coverage on shares of Amazon.com in a research report on Wednesday, June 29th. They issued a “buy” rating and a $270.00 price target on the stock. Itau BBA Securities assumed coverage on shares of Amazon.com in a research report on Tuesday, July 26th. They issued an “outperform” rating and a $146.00 price target on the stock. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $232.00 target price on shares of Amazon.com in a research note on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $178.11.

Insiders Place Their Bets

In other news, VP Shelley Reynolds sold 173 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $375,275.06. Following the transaction, the vice president now directly owns 5,989 shares of the company’s stock, valued at $12,991,458.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Shelley Reynolds sold 173 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total value of $375,275.06. Following the transaction, the vice president now directly owns 5,989 shares of the company’s stock, valued at $12,991,458.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 1,181 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $2,262.00, for a total transaction of $2,671,422.00. Following the completion of the transaction, the chief executive officer now directly owns 92,781 shares in the company, valued at $209,870,622. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,803 shares of company stock valued at $10,528,337. 12.70% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $142.57 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $116.58 and its two-hundred day moving average price is $134.61. Amazon.com, Inc. has a 1 year low of $101.26 and a 1 year high of $188.11. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 127.81, a price-to-earnings-growth ratio of 6.11 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. The firm had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. During the same period last year, the company posted $0.76 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com, Inc. will post 0.97 EPS for the current year.

Amazon.com Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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