Provident Investment Management Inc. Purchases 7,025 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Provident Investment Management Inc. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,519 shares of the e-commerce giant’s stock after buying an additional 7,025 shares during the period. Amazon.com comprises approximately 4.3% of Provident Investment Management Inc.’s investment portfolio, making the stock its 11th biggest position. Provident Investment Management Inc.’s holdings in Amazon.com were worth $44,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. State Street Corp grew its holdings in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC increased its stake in Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after buying an additional 5,015,380 shares during the period. Norges Bank bought a new stake in Amazon.com during the 4th quarter valued at about $27,266,582,000. Finally, Bank of New York Mellon Corp boosted its position in Amazon.com by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock valued at $14,719,407,000 after buying an additional 545,292 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of AMZN stock opened at $189.98 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business has a fifty day moving average of $190.48 and a 200 day moving average of $207.92. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the completion of the transaction, the senior vice president now owns 49,950 shares in the company, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock worth $23,341,803. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada reduced their price objective on Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday. HSBC upped their target price on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company cut their price target on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Finally, Westpark Capital restated a “buy” rating and issued a $280.00 price objective on shares of Amazon.com in a report on Friday. Three equities 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, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $243.55.

Amazon.com Company 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.