Provident Trust Co. Invests $251,000 in Amazon.com, Inc. (NASDAQ:AMZN)

Provident Trust Co. bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,345 shares of the e-commerce giant’s stock, valued at approximately $251,000. Amazon.com accounts for about 0.0% of Provident Trust Co.’s investment portfolio, making the stock its 28th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its holdings in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after buying an additional 16,392 shares during the last quarter. Umpqua Bank lifted its position in Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after acquiring an additional 137 shares during the period. Zhang Financial LLC lifted its position in Amazon.com by 12.9% during the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after acquiring an additional 5,828 shares during the period. BayBridge Capital Group LLC grew its stake in shares of Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after purchasing an additional 4,905 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after purchasing an additional 14,766 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last quarter. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $231.15 on Wednesday. The business’s 50-day moving average price is $203.67 and its 200 day moving average price is $190.54. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a twelve month low of $144.05 and a twelve month high of $233.00. The company has a market capitalization of $2.43 trillion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the firm posted $0.85 EPS. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group raised their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday. Mizuho boosted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Pivotal Research started coverage on Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target for the company. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $240.67.

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.