Procyon Advisors LLC Has $32.42 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Procyon Advisors LLC grew its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the 1st quarter, Holdings Channel reports. The fund owned 179,724 shares of the e-commerce giant’s stock after purchasing an additional 3,264 shares during the period. Amazon.com makes up about 2.5% of Procyon Advisors LLC’s holdings, making the stock its 3rd largest holding. Procyon Advisors LLC’s holdings in Amazon.com were worth $32,419,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMZN. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Amazon.com by 8.3% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,376,685 shares of the e-commerce giant’s stock worth $429,244,000 after buying an additional 258,195 shares in the last quarter. Agur Provident & Training Funds Management Ltd. purchased a new stake in Amazon.com during the third quarter worth $3,769,000. Checchi Capital Advisers LLC boosted its holdings in Amazon.com by 7.4% during the third quarter. Checchi Capital Advisers LLC now owns 73,675 shares of the e-commerce giant’s stock worth $9,366,000 after buying an additional 5,052 shares in the last quarter. Kesler Norman & Wride LLC boosted its holdings in Amazon.com by 25.9% during the third quarter. Kesler Norman & Wride LLC now owns 6,096 shares of the e-commerce giant’s stock worth $775,000 after buying an additional 1,255 shares in the last quarter. Finally, Concorde Asset Management LLC boosted its holdings in Amazon.com by 1.7% during the third quarter. Concorde Asset Management LLC now owns 8,570 shares of the e-commerce giant’s stock worth $1,089,000 after buying an additional 141 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $205.00 price objective on shares of Amazon.com in a research report on Monday. Stifel Nicolaus upped their price objective on shares of Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Tigress Financial upped their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company upped their price objective on shares of Amazon.com from $234.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Piper Sandler upped their price objective on shares of Amazon.com from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $215.86.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the sale, the chief executive officer now owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the transaction, the chief executive officer now directly owns 509,358 shares of the company’s stock, valued at approximately $91,832,153.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares in the company, valued at $24,214,400. The disclosure for this sale can be found here. Insiders have sold a total of 66,548 shares of company stock valued at $12,180,239 over the last 90 days. 10.80% of the stock is owned by corporate insiders.

Amazon.com Trading Up 2.0 %

NASDAQ AMZN opened at $197.20 on Tuesday. The firm has a 50 day simple moving average of $183.87 and a 200-day simple moving average of $173.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $199.84. The firm has a market cap of $2.05 trillion, a price-to-earnings ratio of 55.24, a PEG ratio of 1.38 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 4.72 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.