Procyon Advisors LLC Boosts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Procyon Advisors LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,952 shares of the e-commerce giant’s stock after purchasing an additional 16,141 shares during the period. Amazon.com comprises 3.0% of Procyon Advisors LLC’s holdings, making the stock its 3rd largest position. Procyon Advisors LLC’s holdings in Amazon.com were worth $46,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Semus Wealth Partners LLC lifted its stake in Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after acquiring an additional 49 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after purchasing an additional 51 shares during the last quarter. O Connor Financial Group LLC raised its holdings in shares of Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC boosted its holdings in Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares during the last quarter. Finally, Cedar Point Capital Partners LLC grew its position in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Moffett Nathanson boosted their price target on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler upped their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Sanford C. Bernstein raised their price target on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $249.46.

Insider Buying and Selling

In related news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,027,340 shares of company stock worth $1,252,456,773. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 1.0 %

Shares of NASDAQ AMZN opened at $234.64 on Friday. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 50.24, a PEG ratio of 1.31 and a beta of 1.14. The stock’s fifty day moving average is $222.30 and its 200 day moving average is $198.30. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $241.77. 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 (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period last year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Amazon.com, Inc. will post 5.39 earnings per share for the current fiscal year.

Amazon.com 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.