Fragasso Financial Advisors Inc Decreases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fragasso Financial Advisors Inc lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,867 shares of the e-commerce giant’s stock after selling 6,163 shares during the period. Amazon.com makes up approximately 0.9% of Fragasso Financial Advisors Inc’s holdings, making the stock its 18th largest holding. Fragasso Financial Advisors Inc’s holdings in Amazon.com were worth $11,961,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC bought a new position in Amazon.com during the 4th quarter valued at approximately $25,000. Accordant Advisory Group Inc raised its position in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the 4th quarter valued at approximately $27,000. LSV Asset Management bought a new position in Amazon.com during the 4th quarter valued at approximately $35,000. Finally, Perritt Capital Management Inc raised its position in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

AMZN stock opened at $212.10 on Friday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock’s fifty day moving average price is $195.47 and its 200-day moving average price is $209.16. The company has a market cap of $2.25 trillion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $235.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Tigress Financial increased their target price on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Wells Fargo & Company decreased their target price on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. JMP Securities reissued a “market outperform” rating on shares of Amazon.com in a research report on Tuesday, May 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $212.00 target price (down previously from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $244.89.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the transaction, the chief executive officer now owns 2,148,694 shares in the company, valued at $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by 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.