WASHINGTON TRUST Co Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

WASHINGTON TRUST Co lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 450,703 shares of the e-commerce giant’s stock after selling 34,399 shares during the quarter. Amazon.com makes up about 1.8% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 14th largest holding. WASHINGTON TRUST Co’s holdings in Amazon.com were worth $37,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bridgefront Capital LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $228,000. Krane Funds Advisors LLC lifted its stake in shares of Amazon.com by 239.1% in the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares during the period. Range Financial Group LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $258,000. My Personal CFO LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $261,000. Finally, Worth Asset Management LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $191,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $93.80, for a total transaction of $375,200.00. Following the completion of the transaction, the chief executive officer now directly 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 this link. In other Amazon.com news, CFO Brian T. Olsavsky sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $116.69, for a total transaction of $1,960,392.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $5,717,810. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 560,298 shares in the company, valued at $52,555,952.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,144 shares of company stock valued at $8,405,887. Insiders own 12.70% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $116.75 on Thursday. The firm has a market cap of $1.20 trillion, a price-to-earnings ratio of 277.98, a price-to-earnings-growth ratio of 4.00 and a beta of 1.26. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $104.89 and a 200-day moving average price of $97.55. Amazon.com, Inc. has a twelve month low of $81.43 and a twelve month high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm had revenue of $127.36 billion during the quarter, compared to analyst estimates of $124.57 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Amazon.com, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

AMZN has been the subject of a number of research analyst reports. Truist Financial raised their target price on Amazon.com from $142.00 to $144.00 in a research note on Wednesday, April 12th. Morgan Stanley boosted their target price on Amazon.com from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. StockNews.com assumed coverage on Amazon.com in a report on Thursday, May 18th. They issued a “hold” rating on the stock. DA Davidson boosted their target price on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Finally, Benchmark boosted their target price on Amazon.com from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and forty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.12.

Amazon.com 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.