Procyon Advisors LLC Increases Stake in Amazon.com, Inc. $AMZN

Procyon Advisors LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% during the 1st quarter, HoldingsChannel reports. The firm owned 141,408 shares of the e-commerce giant’s stock after buying an additional 3,095 shares during the period. Amazon.com comprises approximately 0.4% of Procyon Advisors LLC’s holdings, making the stock its 12th biggest position. Procyon Advisors LLC’s holdings in Amazon.com were worth $29,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after purchasing an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after buying an additional 986 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock worth $442,481,000 after buying an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE boosted its stake in Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock worth $6,357,000 after buying an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new stake in Amazon.com in the 4th quarter valued at $2,153,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 2,363 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the completion of the transaction, the vice president owned 119,780 shares of the company’s stock, valued at approximately $31,427,876.40. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total transaction of $239,770.00. Following the transaction, the chief executive officer directly owned 484,527 shares of the company’s stock, valued at $116,175,038.79. The trade was a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 140,425 shares of company stock valued at $37,715,464. 8.90% of the stock is currently owned by company insiders.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Options data and several analyst/commentary pieces suggest traders expect a post-earnings move higher, and multiple firms remain bullish on AMZN heading into the July 30 report. Ahead of Amazon Earnings, Here’s What Barchart Data Says Comes Next for AMZN Stock
• Positive Sentiment: India eased e-commerce export rules, which is a win for Amazon’s international marketplace ambitions and could support long-term growth. India relaxes e-commerce investment rules for exports in win for Amazon
• Positive Sentiment: Several bullish research notes continue to frame AWS, custom silicon, and Amazon’s AI buildout as long-term growth drivers, with some investors arguing the capex surge should ultimately strengthen Amazon’s competitive moat. Amazon: Why The CapEx Surge Makes Me More Bullish, Not Less

Analyst Ratings Changes

A number of analysts have issued reports on AMZN shares. China Renaissance raised their target price on Amazon.com from $300.00 to $326.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Raymond James Financial reissued an “outperform” rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday, May 1st. BMO Capital Markets raised their price objective on shares of Amazon.com from $310.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Morgan Stanley lifted their target price on shares of Amazon.com from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Amazon.com in a report on Tuesday, June 16th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $312.91.

Amazon.com Stock Down 0.7%

Shares of NASDAQ:AMZN opened at $232.11 on Friday. The business has a 50-day moving average price of $248.26 and a 200 day moving average price of $236.32. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.74 and a beta of 1.46. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same period in the previous year, the firm earned $1.59 EPS. Amazon.com’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 7.75 EPS for the current year.

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.