Parr Mcknight Wealth Management Group LLC Invests $7.37 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 33,611 shares of the e-commerce giant’s stock, valued at approximately $7,374,000. Amazon.com comprises about 1.1% of Parr Mcknight Wealth Management Group LLC’s holdings, making the stock its 22nd largest position.

A number of other institutional investors have also recently added to or reduced their stakes in AMZN. Norges Bank purchased a new stake in Amazon.com during the 4th quarter worth $27,266,582,000. Capital World Investors boosted its position in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares during the period. Vanguard Group Inc. boosted its position in Amazon.com by 2.2% during 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 during the period. Proficio Capital Partners LLC boosted its position in Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Finally, Capital International Investors boosted its position in Amazon.com by 26.5% during the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock worth $12,564,961,000 after purchasing an additional 12,000,745 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the sale, the chief executive officer now owns 2,148,694 shares in the company, valued at approximately $432,532,102.20. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,537 shares of company stock worth $20,018,625. 9.70% of the stock is owned by company insiders.

Amazon.com Price Performance

AMZN opened at $205.71 on Wednesday. The company’s 50-day moving average price is $190.77 and its 200 day moving average price is $208.61. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 37.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen cut shares of Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Stifel Nicolaus decreased their price objective on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Scotiabank decreased their price objective on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Finally, Citizens Jmp decreased their price objective on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.57.

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.