Washington Trust Bank Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Washington Trust Bank reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,133 shares of the e-commerce giant’s stock after selling 5,607 shares during the quarter. Amazon.com comprises approximately 2.6% of Washington Trust Bank’s portfolio, making the stock its 7th biggest holding. Washington Trust Bank’s holdings in Amazon.com were worth $26,694,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter valued at about $30,000. Clarity Asset Management Inc. purchased a new stake in Amazon.com in the fourth quarter worth approximately $46,000. Christopher J. Hasenberg Inc grew its position in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares during the last quarter. Steph & Co. bought a new position in Amazon.com during the first quarter valued at approximately $65,000. Finally, Advantage Trust Co purchased a new position in shares of Amazon.com during the fourth quarter worth approximately $68,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. TD Cowen upped their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Tigress Financial lifted their price objective on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price for the company. in a research note on Friday, August 2nd. Finally, JMP Securities increased their target price on Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has an average rating of “Buy” and a consensus price target of $222.84.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 9,490 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.88, for a total transaction of $1,716,551.20. Following the completion of the transaction, the senior vice president now directly owns 64,610 shares of the company’s stock, valued at $11,686,656.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $191.60 on Monday. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The firm’s 50-day simple moving average is $178.54 and its two-hundred day simple moving average is $182.10. The stock has a market cap of $1.99 trillion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

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

Amazon.com Company 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.