Palmer Knight Co Has $10.96 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Palmer Knight Co lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,939 shares of the e-commerce giant’s stock after purchasing an additional 208 shares during the period. Amazon.com accounts for approximately 4.9% of Palmer Knight Co’s investment portfolio, making the stock its biggest holding. Palmer Knight Co’s holdings in Amazon.com were worth $10,956,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AMZN. Busey Bank increased its holdings in shares of Amazon.com by 0.8% during the fourth quarter. Busey Bank now owns 550,726 shares of the e-commerce giant’s stock worth $120,824,000 after purchasing an additional 4,285 shares during the period. Stordahl Capital Management Inc. grew its position in Amazon.com by 7.2% during the fourth quarter. Stordahl Capital Management Inc. now owns 2,961 shares of the e-commerce giant’s stock worth $650,000 after buying an additional 198 shares in the last quarter. Abel Hall LLC increased its stake in Amazon.com by 8.8% during the 4th quarter. Abel Hall LLC now owns 10,309 shares of the e-commerce giant’s stock worth $2,262,000 after acquiring an additional 837 shares during the period. Synergy Asset Management LLC raised its holdings in Amazon.com by 16.6% in the 4th quarter. Synergy Asset Management LLC now owns 156,904 shares of the e-commerce giant’s stock valued at $34,553,000 after acquiring an additional 22,328 shares in the last quarter. Finally, Enzi Wealth lifted its position in shares of Amazon.com by 1.0% during the 4th quarter. Enzi Wealth now owns 7,782 shares of the e-commerce giant’s stock valued at $1,829,000 after acquiring an additional 79 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Down 1.7 %

NASDAQ AMZN opened at $222.88 on Friday. The stock has a market capitalization of $2.36 trillion, a P/E ratio of 40.30, a P/E/G ratio of 1.57 and a beta of 1.15. The business has a 50 day simple moving average of $228.10 and a 200 day simple moving average of $203.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping 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%. Research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,852 shares of company stock worth $9,324,151. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMZN. Tigress Financial raised their price target on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Roth Mkm raised their target price on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 price target (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Truist Financial lifted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Raymond James boosted their price objective on shares of Amazon.com from $260.00 to $275.00 in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $260.74.

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.