Provident Trust Co. Acquires Shares of 1,345 Amazon.com, Inc. (NASDAQ:AMZN)

Provident Trust Co. bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,345 shares of the e-commerce giant’s stock, valued at approximately $251,000. Amazon.com comprises 0.0% of Provident Trust Co.’s holdings, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Praetorian Wealth Management Inc. acquired a new position in Amazon.com in the 2nd quarter worth about $597,000. CVA Family Office LLC raised its stake in shares of Amazon.com by 4.7% during the 2nd quarter. CVA Family Office LLC now owns 21,533 shares of the e-commerce giant’s stock worth $4,161,000 after buying an additional 961 shares during the period. Hilltop National Bank lifted its position in shares of Amazon.com by 2.1% during the 2nd quarter. Hilltop National Bank now owns 10,677 shares of the e-commerce giant’s stock valued at $2,063,000 after buying an additional 222 shares in the last quarter. CWM LLC grew its stake in Amazon.com by 1.0% in the 2nd quarter. CWM LLC now owns 1,185,983 shares of the e-commerce giant’s stock valued at $229,191,000 after acquiring an additional 11,194 shares during the period. Finally, Fiduciary Alliance LLC raised its position in Amazon.com by 17.1% during the second quarter. Fiduciary Alliance LLC now owns 75,496 shares of the e-commerce giant’s stock worth $15,099,000 after acquiring an additional 10,998 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $231.15 on Wednesday. The business has a 50-day simple moving average of $203.67 and a 200-day simple moving average of $190.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The company has a market cap of $2.43 trillion, a PE ratio of 49.50, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Analyst Ratings Changes

AMZN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt boosted their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Bank of America boosted their price target on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Maxim Group raised their price objective on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $240.67.

Insider Buying and Selling

In other news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Company 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.