Parallel Advisors LLC Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Parallel Advisors LLC lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,319 shares of the e-commerce giant’s stock after selling 1,287 shares during the quarter. Amazon.com makes up about 1.5% of Parallel Advisors LLC’s holdings, making the stock its 8th largest position. Parallel Advisors LLC’s holdings in Amazon.com were worth $72,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AMZN. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter valued at approximately $27,266,582,000. GAMMA Investing LLC lifted its holdings in shares of Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors lifted its holdings in shares of Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Amazon.com by 2.2% during 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 acquiring an additional 17,635,391 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after acquiring an additional 12,018,120 shares during the period. Institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at approximately $95,776,017.26. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Brian Alexander sold 1,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the transaction, the director now owns 5,465 shares of the company’s stock, valued at $1,151,366.20. The trade was a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,037 shares of company stock worth $20,531,075 over the last ninety days. 9.70% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Amazon.com stock opened at $217.61 on Wednesday. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The business has a 50-day simple moving average of $193.04 and a 200 day simple moving average of $209.02. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.31 trillion, a price-to-earnings ratio of 39.35, a PEG ratio of 1.50 and a beta of 1.33.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group dropped their price target on Amazon.com from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen lowered Amazon.com from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Piper Sandler reiterated an “overweight” rating and set a $212.00 price target (down from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Canaccord Genuity Group reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Finally, Benchmark reiterated a “buy” rating and set a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.89.

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.