Patten Group Inc. Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Patten Group Inc. grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,612 shares of the e-commerce giant’s stock after purchasing an additional 697 shares during the period. Patten Group Inc.’s holdings in Amazon.com were worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Townsend Asset Management Corp NC ADV lifted its holdings in Amazon.com by 8.7% in the second quarter. Townsend Asset Management Corp NC ADV now owns 58,709 shares of the e-commerce giant’s stock valued at $11,346,000 after acquiring an additional 4,679 shares during the last quarter. IMA Advisory Services Inc. lifted its holdings in Amazon.com by 1.8% in the second quarter. IMA Advisory Services Inc. now owns 31,282 shares of the e-commerce giant’s stock valued at $6,045,000 after acquiring an additional 542 shares during the last quarter. Van Strum & Towne Inc. lifted its holdings in Amazon.com by 31.3% in the second quarter. Van Strum & Towne Inc. now owns 5,508 shares of the e-commerce giant’s stock valued at $1,064,000 after acquiring an additional 1,314 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Amazon.com by 0.7% in the second quarter. Proficio Capital Partners LLC now owns 78,772 shares of the e-commerce giant’s stock valued at $15,223,000 after acquiring an additional 573 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its holdings in Amazon.com by 93.8% in the second quarter. Catalyst Capital Advisors LLC now owns 34,515 shares of the e-commerce giant’s stock valued at $6,670,000 after acquiring an additional 16,704 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the transaction, the chief executive officer now owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the transaction, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on AMZN shares. Bank of America decreased their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Barclays upped their price objective on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group upped their price objective on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company decreased their price target on Amazon.com from $232.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. One analyst has rated the stock with a hold rating, forty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $222.49.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $186.88 on Wednesday. The firm has a market capitalization of $1.94 trillion, a PE ratio of 52.35, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The business’s fifty day moving average price is $178.97 and its 200 day moving average price is $181.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

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.