Principal Street Partners LLC Has $6.98 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Principal Street Partners LLC grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,735 shares of the e-commerce giant’s stock after buying an additional 260 shares during the quarter. Amazon.com accounts for approximately 1.9% of Principal Street Partners LLC’s holdings, making the stock its 5th largest position. Principal Street Partners LLC’s holdings in Amazon.com were worth $6,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMZN. State Street Corp raised its stake in shares of Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after buying an additional 310,134,486 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after acquiring an additional 295,880,050 shares during the period. FMR LLC lifted its holdings in Amazon.com by 1,792.4% during the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares in the last quarter. Northern Trust Corp boosted its position in shares of Amazon.com by 1,867.0% in the second quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock worth $10,089,669,000 after purchasing an additional 90,167,792 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Amazon.com by 1,944.4% in the second quarter. Legal & General Group Plc now owns 59,977,393 shares of the e-commerce giant’s stock worth $6,370,223,000 after purchasing an additional 57,043,701 shares in the last quarter. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Down 1.6 %

NASDAQ:AMZN opened at $90.73 on Friday. The firm has a 50-day simple moving average of $95.85 and a 200-day simple moving average of $102.99. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $170.83. The firm has a market cap of $929.73 billion, a P/E ratio of -338.53, a P/E/G ratio of 3.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The business had revenue of $149.20 billion for the quarter, compared to analysts’ expectations of $145.72 billion. Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. Equities analysts anticipate that Amazon.com, Inc. will post 1.34 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total transaction of $375,200.00. Following the sale, the chief executive officer now owns 560,298 shares of the company’s stock, valued at $52,555,952.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $93.80, for a total value of $375,200.00. Following the transaction, the chief executive officer now directly owns 560,298 shares of the company’s stock, valued at $52,555,952.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total value of $568,293.00. Following the sale, the chief executive officer now owns 124,180 shares of the company’s stock, valued at approximately $13,837,377.40. The disclosure for this sale can be found here. In the last three months, insiders sold 71,394 shares of company stock valued at $6,994,626. Corporate insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of Amazon.com from $130.00 to $150.00 in a research note on Friday, February 3rd. Rosenblatt Securities upped their price objective on Amazon.com from $103.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. New Street Research began coverage on Amazon.com in a research note on Wednesday, January 4th. They set a “buy” rating and a $130.00 target price on the stock. Wells Fargo & Company dropped their price target on Amazon.com from $155.00 to $145.00 in a research note on Friday, February 3rd. Finally, Piper Sandler lifted their price objective on shares of Amazon.com from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.87.

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 segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.