Patten Group Inc. Grows Position in Amazon.com, Inc. (NASDAQ:AMZN)

Patten Group Inc. lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,589 shares of the e-commerce giant’s stock after purchasing an additional 1,207 shares during the period. Patten Group Inc.’s holdings in Amazon.com were worth $3,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares in the last quarter. Parnassus Investments LLC raised its holdings in Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares in the last quarter. State Street Corp lifted its position in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its position in shares of Amazon.com by 23,742.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant’s stock valued at $1,119,463,000 after buying an additional 5,081,217 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,798 shares of company stock worth $23,341,803 over the last three months. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

NASDAQ AMZN opened at $171.00 on Friday. The business’s fifty day moving average is $212.18 and its 200 day moving average is $208.91. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market capitalization of $1.81 trillion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on AMZN. Royal Bank of Canada raised their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group dropped their price target on Amazon.com from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. HSBC boosted their target price on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $280.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $260.53.

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.