Procyon Advisors LLC Boosts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Procyon Advisors LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,811 shares of the e-commerce giant's stock after purchasing an additional 15,684 shares during the period. Amazon.com comprises 2.5% of Procyon Advisors LLC's holdings, making the stock its 3rd biggest holding. Procyon Advisors LLC's holdings in Amazon.com were worth $36,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMZN. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant's stock worth $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP purchased a new position in shares of Amazon.com in the third quarter worth about $37,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant's stock valued at $58,000 after acquiring an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new stake in Amazon.com during the 1st quarter worth about $69,000. Finally, Innealta Capital LLC acquired a new position in Amazon.com in the second quarter valued at approximately $77,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMZN. Evercore ISI increased their price target on Amazon.com from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. UBS Group boosted their target price on shares of Amazon.com from $220.00 to $223.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Finally, Pivotal Research assumed coverage on Amazon.com in a research report on Friday, October 11th. They issued a "buy" rating and a $260.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.55.

Insiders Place Their Bets

In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares of the company's stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company's stock, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company's stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,053,349 shares of company stock worth $1,256,503,289. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock traded up $2.07 during trading hours on Tuesday, hitting $208.91. The stock had a trading volume of 38,860,271 shares, compared to its average volume of 41,399,859. The stock's 50 day moving average is $188.40 and its 200 day moving average is $184.95. The firm has a market capitalization of $2.20 trillion, a PE ratio of 44.18, a PEG ratio of 1.40 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $139.52 and a twelve month high of $212.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company's revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

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.