Amazon.com, Inc. (NASDAQ:AMZN) is Progressive Investment Management Corp's 3rd Largest Position

Progressive Investment Management Corp trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,710 shares of the e-commerce giant's stock after selling 2,848 shares during the quarter. Amazon.com comprises about 6.6% of Progressive Investment Management Corp's holdings, making the stock its 3rd largest position. Progressive Investment Management Corp's holdings in Amazon.com were worth $25,824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. State Street Corp boosted its holdings in shares of 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 purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Norges Bank purchased a new position in shares of Amazon.com in the 4th quarter worth about $27,266,582,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Amazon.com by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant's stock worth $14,719,407,000 after purchasing an additional 545,292 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now owns 49,950 shares of the company's stock, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock worth $23,341,803 in the last quarter. Corporate insiders own 10.80% of the company's stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $187.70 on Tuesday. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 33.94, a PEG ratio of 1.50 and a beta of 1.39. The firm's 50-day moving average is $192.74 and its 200 day moving average is $208.04. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. 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 (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Rosenblatt Securities upped their price objective on Amazon.com from $236.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Phillip Securities cut Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 10th. Cantor Fitzgerald lowered their target price on Amazon.com from $270.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Citigroup lowered their target price on Amazon.com from $273.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $246.73.

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.

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