Procyon Advisors LLC Has $6.76 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Procyon Advisors LLC grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1,962.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,651 shares of the e-commerce giant’s stock after buying an additional 60,565 shares during the quarter. Amazon.com accounts for about 1.5% of Procyon Advisors LLC’s holdings, making the stock its 11th biggest position. Procyon Advisors LLC’s holdings in Amazon.com were worth $6,760,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lcnb Corp raised its holdings in Amazon.com by 0.6% during the 4th quarter. Lcnb Corp now owns 624 shares of the e-commerce giant’s stock valued at $2,081,000 after acquiring an additional 4 shares during the period. MBM Wealth Consultants LLC increased its holdings in shares of Amazon.com by 57.1% in the fourth quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock worth $37,000 after purchasing an additional 4 shares during the period. Samalin Investment Counsel LLC increased its holdings in shares of Amazon.com by 1.7% in the fourth quarter. Samalin Investment Counsel LLC now owns 239 shares of the e-commerce giant’s stock worth $795,000 after purchasing an additional 4 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Amazon.com by 6.3% in the first quarter. Confluence Investment Management LLC now owns 67 shares of the e-commerce giant’s stock worth $218,000 after purchasing an additional 4 shares during the period. Finally, Stonebridge Capital Management Inc. increased its holdings in shares of Amazon.com by 0.5% in the first quarter. Stonebridge Capital Management Inc. now owns 861 shares of the e-commerce giant’s stock worth $2,807,000 after purchasing an additional 4 shares during the period. 57.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on AMZN. Citigroup upped their price target on shares of Amazon.com to $185.00 in a report on Tuesday, August 9th. Oppenheimer decreased their price target on shares of Amazon.com from $175.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, July 25th. Jefferies Financial Group decreased their price target on shares of Amazon.com from $163.00 to $150.00 in a report on Wednesday, July 20th. StockNews.com raised Amazon.com from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Truist Financial reissued a “buy” rating and issued a $175.00 target price on shares of Amazon.com in a research note on Friday, June 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirty-six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.61.

Amazon.com Price Performance

AMZN stock opened at $117.31 on Friday. Amazon.com, Inc. has a 1 year low of $101.26 and a 1 year high of $188.11. The company has a market cap of $1.20 trillion, a P/E ratio of 105.16, a PEG ratio of 5.45 and a beta of 1.33. The firm has a 50-day moving average of $130.33 and a 200 day moving average of $130.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.68.

Amazon.com (NASDAQ:AMZNGet Rating) last announced its earnings results on Thursday, July 28th. The e-commerce giant reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Amazon.com had a net margin of 2.39% and a return on equity of 15.79%. The business had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. During the same period in the prior year, the business posted $0.76 EPS. Amazon.com’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Amazon.com, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the completion of the transaction, the chief executive officer now owns 115,680 shares of the company’s stock, valued at $14,741,102.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 23,620 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the completion of the transaction, the chief executive officer now owns 1,892,000 shares of the company’s stock, valued at $269,212,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Selipsky sold 520 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total transaction of $66,263.60. Following the sale, the chief executive officer now directly owns 115,680 shares of the company’s stock, valued at approximately $14,741,102.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,628 shares of company stock valued at $9,802,599. Corporate insiders own 12.70% of the company’s stock.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

See Also

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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