First Citizens Bank & Trust Co. Trims Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

First Citizens Bank & Trust Co. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 29.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,123 shares of the e-commerce giant’s stock after selling 63,888 shares during the quarter. Amazon.com makes up about 0.4% of First Citizens Bank & Trust Co.’s holdings, making the stock its 24th largest position. First Citizens Bank & Trust Co.’s holdings in Amazon.com were worth $23,266,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bridgefront Capital LLC purchased a new position in shares of Amazon.com during the first quarter worth about $228,000. Krane Funds Advisors LLC grew its holdings in shares of Amazon.com by 239.1% during the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after purchasing an additional 55 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of Amazon.com during the first quarter worth about $258,000. My Personal CFO LLC purchased a new position in shares of Amazon.com during the first quarter worth about $261,000. Finally, Worth Asset Management LLC purchased a new position in shares of Amazon.com during the first quarter worth about $191,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jeffrey P. Bezos sold 2,009,208 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the completion of the sale, the insider now directly owns 938,251,817 shares of the company’s stock, valued at approximately $156,491,020,557.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total transaction of $92,000.00. Following the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The disclosure for this sale can be found here. In the last three months, insiders sold 32,214,010 shares of company stock valued at $5,505,874,846. Company insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMZN. Moffett Nathanson reaffirmed a “buy” rating and set a $228.00 price objective on shares of Amazon.com in a report on Thursday, April 11th. Barclays raised their price target on Amazon.com from $190.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Piper Sandler raised their price target on Amazon.com from $185.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Telsey Advisory Group reissued an “outperform” rating and set a $200.00 price target on shares of Amazon.com in a report on Wednesday, March 27th. Finally, Wells Fargo & Company raised their price target on Amazon.com from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average target price of $201.43.

Amazon.com Trading Down 1.3 %

Shares of Amazon.com stock opened at $183.62 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 1 year low of $101.15 and a 1 year high of $189.77. The company has a market capitalization of $1.91 trillion, a P/E ratio of 63.32, a P/E/G ratio of 1.62 and a beta of 1.17. The business has a 50 day moving average price of $176.60 and a 200 day moving average price of $155.79.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. The firm had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. Amazon.com’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. Sell-side analysts anticipate that Amazon.com, Inc. will post 4.08 EPS 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.