First Citizens Bank & Trust Co. Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

First Citizens Bank & Trust Co. decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 29.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,123 shares of the e-commerce giant’s stock after selling 63,888 shares during the quarter. Amazon.com comprises about 0.4% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 24th biggest holding. First Citizens Bank & Trust Co.’s holdings in Amazon.com were worth $23,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bridgefront Capital LLC purchased a new position in shares of Amazon.com in the first quarter worth $228,000. Krane Funds Advisors LLC raised its stake in shares of Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of Amazon.com in the first quarter worth $258,000. My Personal CFO LLC purchased a new position in shares of Amazon.com in the first quarter worth $261,000. Finally, Worth Asset Management LLC purchased a new position in shares of Amazon.com in the first quarter worth $191,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 1.3 %

Shares of AMZN stock opened at $183.62 on Tuesday. Amazon.com, Inc. has a 1 year low of $101.15 and a 1 year high of $189.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $176.60 and its two-hundred day simple moving average is $155.79. The company has a market cap of $1.91 trillion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The firm had revenue of $169.96 billion for the quarter, compared to the consensus estimate of $165.96 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts predict that Amazon.com, Inc. will post 4.08 earnings per share for the current year.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of research reports. Oppenheimer upped their price objective on Amazon.com from $200.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Wednesday, April 10th. Morgan Stanley upped their price objective on Amazon.com from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their price objective on Amazon.com from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Sanford C. Bernstein upped their price objective on Amazon.com from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com currently has an average rating of “Buy” and a consensus target price of $201.43.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the transaction, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,214,010 shares of company stock worth $5,505,874,846. 12.70% of the stock is currently owned by company insiders.

Amazon.com Profile

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.