Penney Financial LLC Raises Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Penney Financial LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,759 shares of the e-commerce giant’s stock after purchasing an additional 160 shares during the quarter. Amazon.com makes up about 0.4% of Penney Financial LLC’s investment portfolio, making the stock its 21st largest holding. Penney Financial LLC’s holdings in Amazon.com were worth $605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in 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 buying an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Legal & General Group Plc grew its position in shares of Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after purchasing an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $1,000,077.35. Following the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,852 shares of company stock valued at $9,324,151. Company insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 1.7 %

AMZN opened at $222.88 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $228.10 and its two-hundred day moving average is $203.58. The company has a market capitalization of $2.36 trillion, a P/E ratio of 40.30, a PEG ratio of 1.57 and a beta of 1.15. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMZN. Barclays increased their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 target price (up from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Sanford C. Bernstein lifted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Bank of America increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup reduced their target price on Amazon.com from $275.00 to $273.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.