Providence First Trust Co Lowers Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Providence First Trust Co cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,420 shares of the e-commerce giant’s stock after selling 720 shares during the period. Amazon.com makes up 1.3% of Providence First Trust Co’s investment portfolio, making the stock its 25th largest position. Providence First Trust Co’s holdings in Amazon.com were worth $2,194,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Bellecapital International Ltd. lifted its position in Amazon.com by 1,993.8% during the second quarter. Bellecapital International Ltd. now owns 70,644 shares of the e-commerce giant’s stock valued at $7,503,000 after buying an additional 67,270 shares in the last quarter. Bouchey Financial Group Ltd lifted its position in Amazon.com by 2,027.5% during the second quarter. Bouchey Financial Group Ltd now owns 160,326 shares of the e-commerce giant’s stock valued at $17,028,000 after buying an additional 152,790 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in Amazon.com by 1.0% during the third quarter. Gulf International Bank UK Ltd now owns 1,526,940 shares of the e-commerce giant’s stock valued at $172,544,000 after buying an additional 15,640 shares in the last quarter. Ervin Investment Management LLC lifted its position in Amazon.com by 1,900.0% during the second quarter. Ervin Investment Management LLC now owns 2,940 shares of the e-commerce giant’s stock valued at $320,000 after buying an additional 2,793 shares in the last quarter. Finally, Csenge Advisory Group lifted its position in Amazon.com by 2,077.0% during the second quarter. Csenge Advisory Group now owns 68,119 shares of the e-commerce giant’s stock valued at $7,235,000 after buying an additional 64,990 shares in the last quarter. 57.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMZN. Truist Financial reduced their price target on shares of Amazon.com from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. New Street Research began coverage on shares of Amazon.com in a research note on Wednesday, January 4th. They set a “buy” rating and a $130.00 price objective on the stock. Benchmark dropped their price objective on shares of Amazon.com from $160.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Erste Group Bank lowered shares of Amazon.com from a “buy” rating to a “hold” rating in a research note on Friday, November 18th. Finally, Credit Suisse Group dropped their price objective on shares of Amazon.com from $159.00 to $142.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and forty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.87.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 15,787 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $103.10, for a total transaction of $1,627,639.70. Following the sale, the chief executive officer now owns 522,251 shares in the company, valued at approximately $53,844,078.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Adam Selipsky sold 345 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $102.00, for a total value of $35,190.00. Following the transaction, the chief executive officer now owns 112,795 shares in the company, valued at approximately $11,505,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 15,787 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $103.10, for a total value of $1,627,639.70. Following the completion of the transaction, the chief executive officer now owns 522,251 shares in the company, valued at approximately $53,844,078.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,428 shares of company stock worth $5,077,578. Company insiders own 12.70% of the company’s stock.

Amazon.com Price Performance

NASDAQ AMZN opened at $97.25 on Monday. The stock’s 50-day moving average price is $90.72 and its two-hundred day moving average price is $110.23. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43. The company has a market cap of $992.11 billion, a PE ratio of 89.26, a PEG ratio of 3.06 and a beta of 1.22. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $127.10 billion for the quarter, compared to analyst estimates of $127.47 billion. Amazon.com had a return on equity of 14.44% and a net margin of 2.25%. Amazon.com’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, analysts predict that Amazon.com, Inc. will post 0.68 EPS for the current year.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North American-focused websites such as www.amazon.com and www.amazon.ca.