Perkins Coie Trust Co Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Perkins Coie Trust Co reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,778 shares of the e-commerce giant’s stock after selling 335 shares during the period. Amazon.com makes up about 2.0% of Perkins Coie Trust Co’s holdings, making the stock its 11th largest holding. Perkins Coie Trust Co’s holdings in Amazon.com were worth $8,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Icon Wealth Advisors LLC lifted its holdings in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares during the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the 3rd quarter valued at about $45,000. Values First Advisors Inc. purchased a new position in Amazon.com during the 3rd quarter worth approximately $56,000. Finally, IFS Advisors LLC increased its position in Amazon.com by 1,625.0% during the fourth quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock worth $76,000 after buying an additional 325 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,027,340 shares of company stock worth $1,252,456,773 over the last three months. 10.80% of the stock is owned by insiders.

Amazon.com Trading Up 1.3 %

Shares of Amazon.com stock opened at $237.68 on Monday. The business’s fifty day moving average is $223.83 and its two-hundred day moving average is $198.91. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $241.77. The firm has a market cap of $2.50 trillion, a PE ratio of 50.90, a P/E/G ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts anticipate that Amazon.com, Inc. will post 5.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMZN has been the subject of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $280.00 price objective (up from $260.00) on shares of Amazon.com in a report on Monday, January 27th. Loop Capital raised their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Redburn Atlantic upped their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler raised their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus upped their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.44.

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.