Amazon.com, Inc. (NASDAQ:AMZN) is Sitrin Capital Management LLC’s 6th Largest Position

Sitrin Capital Management LLC raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 36,540 shares of the e-commerce giant’s stock after purchasing an additional 545 shares during the period. Amazon.com comprises 4.0% of Sitrin Capital Management LLC’s holdings, making the stock its 6th biggest position. Sitrin Capital Management LLC’s holdings in Amazon.com were worth $8,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Rench Wealth Management Inc. grew its holdings in shares of Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares during the period. Blankinship & Foster LLC raised its stake in Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares during the period. Umpqua Bank boosted its holdings in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after purchasing an additional 137 shares during the last quarter. One Wealth Capital Management LLC purchased a new stake in shares of Amazon.com in the 4th quarter valued at approximately $4,270,000. Finally, Floyd Financial Group LLC acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $4,494,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Barclays upped their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Sanford C. Bernstein lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Mizuho boosted their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Raymond James raised their price target on Amazon.com from $260.00 to $275.00 in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average price target of $260.65.

Amazon.com Price Performance

Amazon.com stock opened at $192.72 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a market cap of $2.04 trillion, a P/E ratio of 34.85, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The business has a fifty day moving average of $216.86 and a two-hundred day moving average of $208.87.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share 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.