Precedent Wealth Partners LLC Has $1.29 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Precedent Wealth Partners LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,877 shares of the e-commerce giant’s stock after selling 115 shares during the period. Precedent Wealth Partners LLC’s holdings in Amazon.com were worth $1,289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Hoese & Co LLP acquired a new position in shares of Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com in the 3rd quarter valued at about $45,000. Values First Advisors Inc. acquired a new position in Amazon.com in the 3rd quarter valued at about $56,000. IFS Advisors LLC grew its stake in Amazon.com by 1,625.0% in the 4th quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after buying an additional 325 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new position in Amazon.com in the 4th quarter valued at about $88,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,348 shares of company stock worth $5,036,214. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $230.37 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a 50 day simple moving average of $227.98 and a 200 day simple moving average of $201.78. The company has a market cap of $2.42 trillion, a price-to-earnings ratio of 41.66, a PEG ratio of 1.36 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. Research analysts predict that Amazon.com, Inc. will post 6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on AMZN. Tigress Financial upped their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group upped their price target on shares of Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. TD Cowen upped their price target on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Loop Capital boosted their price objective on shares of Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Moffett Nathanson boosted their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $260.74.

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.