Procyon Advisors LLC Has $32.42 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Procyon Advisors LLC increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,724 shares of the e-commerce giant’s stock after purchasing an additional 3,264 shares during the period. Amazon.com makes up 2.5% of Procyon Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Procyon Advisors LLC’s holdings in Amazon.com were worth $32,419,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. PFS Partners LLC boosted its stake in Amazon.com by 30.9% during the 1st quarter. PFS Partners LLC now owns 2,092 shares of the e-commerce giant’s stock valued at $377,000 after purchasing an additional 494 shares during the last quarter. Arkansas Financial Group Inc. acquired a new position in Amazon.com during the 1st quarter valued at about $233,000. Mosley Wealth Management boosted its stake in Amazon.com by 35.2% during the 1st quarter. Mosley Wealth Management now owns 4,131 shares of the e-commerce giant’s stock valued at $745,000 after purchasing an additional 1,076 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Amazon.com by 8.0% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 277,748 shares of the e-commerce giant’s stock valued at $50,100,000 after purchasing an additional 20,632 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its stake in Amazon.com by 9.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 18,309 shares of the e-commerce giant’s stock valued at $3,303,000 after purchasing an additional 1,549 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 2.0 %

AMZN opened at $197.20 on Tuesday. The company has a fifty day moving average price of $183.87 and a 200-day moving average price of $173.28. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 55.24, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $199.84.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s 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 sale, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,548 shares of company stock worth $12,180,239. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on Amazon.com from $234.00 to $239.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup boosted their target price on Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their target price on Amazon.com from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI boosted their target price on Amazon.com from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, DA Davidson restated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research note on Thursday, April 18th. One research 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, Amazon.com has an average rating of “Buy” and a consensus price target of $215.86.

About Amazon.com

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.