Proffitt & Goodson Inc. Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Proffitt & Goodson Inc. lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,623 shares of the e-commerce giant’s stock after selling 150 shares during the quarter. Amazon.com comprises approximately 0.6% of Proffitt & Goodson Inc.’s holdings, making the stock its 26th largest holding. Proffitt & Goodson Inc.’s holdings in Amazon.com were worth $3,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rench Wealth Management Inc. increased its position in shares of Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares in the last quarter. Blankinship & Foster LLC lifted its holdings in shares of Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after acquiring an additional 4,740 shares in the last quarter. Umpqua Bank boosted its position in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. One Wealth Capital Management LLC acquired a new stake in Amazon.com in the 4th quarter valued at $4,270,000. Finally, Floyd Financial Group LLC purchased a new position in Amazon.com in the fourth quarter valued at about $4,494,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

AMZN has been the subject of several analyst reports. Morgan Stanley upped their target price on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Sanford C. Bernstein upped their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Raymond James lifted their price objective on shares of Amazon.com from $260.00 to $275.00 in a research note on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $280.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Finally, DA Davidson raised their price target on shares of Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $260.53.

Insider Buying and Selling

In other news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now owns 119,780 shares in the company, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the sale, the senior vice president now directly owns 49,950 shares in the company, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,298 shares of company stock worth $22,871,828 in the last three months. 10.80% of the stock is currently owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $192.17 on Wednesday. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $215.38 and a two-hundred day moving average of $209.31. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 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 24.25%. As a group, analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.