Amazon.com, Inc. $AMZN Shares Purchased by Provident Investment Management Inc.

Provident Investment Management Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,121 shares of the e-commerce giant’s stock after purchasing an additional 19,289 shares during the quarter. Amazon.com accounts for approximately 4.3% of Provident Investment Management Inc.’s portfolio, making the stock its 11th largest position. Provident Investment Management Inc.’s holdings in Amazon.com were worth $49,828,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AMZN. Wilson Asset Management International PTY Ltd. purchased a new position in shares of Amazon.com during the second quarter worth about $11,102,000. ARK Investment Management LLC lifted its position in Amazon.com by 8.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock worth $250,213,000 after acquiring an additional 86,978 shares during the period. Buckhead Capital Management LLC lifted its position in Amazon.com by 16.1% during the 2nd quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock worth $6,232,000 after acquiring an additional 3,948 shares during the period. Flaharty Asset Management LLC grew its stake in shares of Amazon.com by 87.7% in the 1st quarter. Flaharty Asset Management LLC now owns 5,088 shares of the e-commerce giant’s stock valued at $968,000 after purchasing an additional 2,377 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its holdings in shares of Amazon.com by 6.0% in the second quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock valued at $249,295,000 after purchasing an additional 63,924 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 1.6%

Shares of NASDAQ AMZN opened at $222.54 on Tuesday. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60. The company has a market capitalization of $2.38 trillion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The firm’s 50-day moving average is $229.39 and its two-hundred day moving average is $225.13.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The business had revenue of $180.17 billion during the quarter, compared to analysts’ expectations of $177.53 billion. During the same period last year, the company posted $1.43 EPS. The company’s revenue was up 13.4% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, Director Keith Brian Alexander sold 900 shares of Amazon.com stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $233.00, for a total value of $209,700.00. Following the completion of the sale, the director owned 7,170 shares in the company, valued at $1,670,610. The trade was a 11.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew S. Garman sold 17,768 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $216.90, for a total transaction of $3,853,879.20. Following the transaction, the chief executive officer directly owned 6,273 shares of the company’s stock, valued at approximately $1,360,613.70. This represents a 73.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 82,234 shares of company stock valued at $19,076,767. 9.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMZN shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $300.00 price target on shares of Amazon.com in a report on Wednesday, December 3rd. CIBC raised their target price on shares of Amazon.com to $315.00 in a research note on Monday, October 20th. Wolfe Research lifted their target price on shares of Amazon.com from $265.00 to $270.00 in a report on Tuesday, September 30th. BNP Paribas Exane started coverage on shares of Amazon.com in a research note on Monday, November 24th. They set an “outperform” rating on the stock. Finally, Bank of America raised their price objective on shares of Amazon.com from $272.00 to $303.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $295.43.

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.