Arrow Financial Corp Raises Position in Amazon.com, Inc. (NASDAQ:AMZN)

Arrow Financial Corp lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,447 shares of the e-commerce giant’s stock after buying an additional 527 shares during the quarter. Amazon.com accounts for approximately 1.2% of Arrow Financial Corp’s holdings, making the stock its 25th largest holding. Arrow Financial Corp’s holdings in Amazon.com were worth $12,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Values First Advisors Inc. acquired a new position in shares of Amazon.com in the 3rd quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc boosted its stake in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMZN shares. DA Davidson restated a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a research note on Thursday, October 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $197.00 target price on shares of Amazon.com in a research report on Wednesday, November 20th. Stifel Nicolaus increased their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Redburn Atlantic increased their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $242.00.

Amazon.com Trading Up 1.3 %

Amazon.com stock opened at $223.29 on Friday. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market capitalization of $2.35 trillion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm has a 50 day simple moving average of $205.11 and a 200-day simple moving average of $190.98.

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

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. 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 business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the sale, the chief executive officer now owns 524,567 shares in the company, valued at $110,159,070. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last three months. Company 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.