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

Progressive Investment Management Corp lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,710 shares of the e-commerce giant’s stock after selling 2,848 shares during the quarter. Amazon.com makes up approximately 6.6% of Progressive Investment Management Corp’s holdings, making the stock its 3rd biggest 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 institutional investors have also recently made changes to their positions in the business. RiverFront Investment Group LLC lifted its stake in shares of Amazon.com by 8.5% in the 4th quarter. RiverFront Investment Group LLC now owns 186,825 shares of the e-commerce giant’s stock worth $40,988,000 after purchasing an additional 14,561 shares during the period. Horizon Investment Services LLC lifted its stake in shares of Amazon.com by 15.5% in the 4th quarter. Horizon Investment Services LLC now owns 24,046 shares of the e-commerce giant’s stock worth $5,275,000 after purchasing an additional 3,221 shares during the period. Pamplona Capital Management LLC bought a new position in shares of Amazon.com in the 4th quarter worth approximately $226,009,000. DnB Asset Management AS raised its stake in Amazon.com by 4.5% during the 4th quarter. DnB Asset Management AS now owns 6,073,277 shares of the e-commerce giant’s stock worth $1,332,416,000 after acquiring an additional 262,801 shares during the period. Finally, Level Four Advisory Services LLC raised its stake in Amazon.com by 1.6% during the 4th quarter. Level Four Advisory Services LLC now owns 230,371 shares of the e-commerce giant’s stock worth $50,541,000 after acquiring an additional 3,575 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $187.70 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market capitalization of $1.99 trillion, a P/E ratio of 33.94, a P/E/G ratio of 1.50 and a beta of 1.39. The company’s 50-day simple moving average is $192.74 and its two-hundred day simple moving average is $208.04. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 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%. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at approximately $95,776,017.26. This trade represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $10,933,860. This represents a 22.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMZN shares. Morgan Stanley decreased their target price on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Truist Financial decreased their target price on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Rosenblatt Securities raised their target price on shares of Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Oppenheimer decreased their target price on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Raymond James restated an “outperform” rating and set a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average price target of $246.73.

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.