Mechanics Bank Trust Department Sells 1,097 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Mechanics Bank Trust Department reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,851 shares of the e-commerce giant’s stock after selling 1,097 shares during the period. Amazon.com accounts for approximately 1.6% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 13th biggest holding. Mechanics Bank Trust Department’s holdings in Amazon.com were worth $10,976,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMZN. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares during the period. Strid Group LLC acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $43,000. Harbor Investment Advisory LLC boosted its stake in Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 1,988 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Amazon.com during the 4th quarter valued at about $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ AMZN opened at $193.25 on Friday. The company has a 50-day simple moving average of $183.87 and a two-hundred day simple moving average of $172.93. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $199.84. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 54.13, a PEG ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 4.72 EPS for the current year.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,338 shares of company stock worth $11,894,344. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMZN. UBS Group lifted their price target on Amazon.com from $215.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Oppenheimer lifted their price target on Amazon.com from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Maxim Group cut their price target on Amazon.com from $318.00 to $238.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Telsey Advisory Group lifted their target price on shares of Amazon.com from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler lifted their target price on shares of Amazon.com from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $215.86.

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.