Palmer Knight Co Sells 553 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Palmer Knight Co reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,731 shares of the e-commerce giant’s stock after selling 553 shares during the period. Amazon.com accounts for about 4.1% of Palmer Knight Co’s holdings, making the stock its 3rd biggest position. Palmer Knight Co’s holdings in Amazon.com were worth $9,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. PayPay Securities Corp boosted its position in 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 shares of Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter valued at $45,000. Christopher J. Hasenberg Inc increased its stake in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in Amazon.com during the third quarter worth about $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wedbush raised their target price on shares of Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a research note on Wednesday, November 20th. Morgan Stanley increased their target price on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $240.67.

Amazon.com Trading Down 0.8 %

Shares of AMZN stock opened at $231.15 on Wednesday. The firm has a market capitalization of $2.43 trillion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. 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 1 year low of $144.05 and a 1 year high of $233.00. The stock has a fifty day moving average of $203.67 and a two-hundred day moving average of $190.54.

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

Insider Buying and Selling at Amazon.com

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, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is owned by corporate insiders.

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.