Proem Advisors LLC Acquires New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Proem Advisors LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 80,000 shares of the e-commerce giant’s stock, valued at approximately $17,551,000. Amazon.com makes up about 4.7% of Proem Advisors LLC’s portfolio, making the stock its 3rd largest holding.

A number of other institutional investors have also modified their holdings of AMZN. Rench Wealth Management Inc. raised its stake in 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 worth $9,392,000 after buying an additional 3,703 shares in the last quarter. Momentous Wealth Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter valued at $749,000. Segall Bryant & Hamill LLC raised its position in shares of Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock worth $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Amazon.com by 173.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock worth $759,434,000 after purchasing an additional 2,196,353 shares during the last quarter. Finally, Blankinship & Foster LLC boosted its position 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 valued at $1,291,000 after purchasing an additional 4,740 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.1 %

AMZN opened at $189.98 on Friday. The company has a fifty day moving average of $190.48 and a two-hundred day moving average of $207.92. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. 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 (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Amazon.com’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shelley Reynolds sold 8,833 shares of the company’s 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock worth $23,341,803 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMZN has been the subject of several analyst reports. Citigroup decreased their price target on shares of Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Scotiabank decreased their target price on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Amazon.com in a report on Friday. Barclays decreased their price objective on Amazon.com from $265.00 to $240.00 and set an “overweight” rating for the company in a report on Friday. Finally, Royal Bank of Canada dropped their target price on Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.55.

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.