Proem Advisors LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Proem Advisors LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 80,000 shares of the e-commerce giant’s stock, valued at approximately $17,551,000. Amazon.com accounts for approximately 4.7% of Proem Advisors LLC’s portfolio, making the stock its 3rd largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Atlas Capital Advisors Inc. raised its holdings in shares of Amazon.com by 656.8% during the 4th quarter. Atlas Capital Advisors Inc. now owns 46,507 shares of the e-commerce giant’s stock worth $10,203,000 after acquiring an additional 40,362 shares during the period. Climber Capital SA acquired a new stake in Amazon.com during the fourth quarter worth about $233,000. Uniting Wealth Partners LLC acquired a new stake in Amazon.com during the fourth quarter worth about $1,858,000. Grant Private Wealth Management Inc purchased a new position in Amazon.com during the fourth quarter worth about $4,619,000. Finally, Spahn Wealth & Retirement LLC acquired a new position in Amazon.com in the 4th quarter valued at about $6,107,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citizens Jmp cut their price target on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 14th. DA Davidson cut their target price on Amazon.com from $280.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their price target on Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Mizuho lowered their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $243.55.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the firm’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 transaction, the senior vice president now directly owns 49,950 shares in the company, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock valued at $23,341,803 over the last three months. 10.80% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Amazon.com stock opened at $189.98 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $190.48 and a 200-day simple moving average of $207.92. The stock has a market cap of $2.02 trillion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the business earned $0.98 EPS. Amazon.com’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

About Amazon.com

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.