Provident Trust Co. Purchases 133 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Provident Trust Co. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,478 shares of the e-commerce giant’s stock after purchasing an additional 133 shares during the quarter. Amazon.com makes up about 0.0% of Provident Trust Co.’s investment portfolio, making the stock its 27th largest holding. Provident Trust Co.’s holdings in Amazon.com were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMZN. Castlekeep Investment Advisors LLC purchased a new position in shares of Amazon.com in the fourth quarter worth $25,000. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter worth $27,000. LSV Asset Management purchased a new position in shares of Amazon.com in the fourth quarter worth $35,000. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the first quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the first quarter worth $40,000. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Friday, August 1st. The stock was sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,101,037 shares of company stock worth $5,674,726,368 in the last three months. 10.80% of the stock is owned by corporate insiders.

Amazon.com Price Performance

Amazon.com stock opened at $221.30 on Tuesday. The company’s fifty day moving average price is $219.94 and its 200 day moving average price is $208.52. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The stock has a market capitalization of $2.36 trillion, a P/E ratio of 33.73, a P/E/G ratio of 1.50 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Benchmark reissued a “buy” rating and issued a $260.00 target price on shares of Amazon.com in a report on Friday, May 2nd. Cowen reissued a “buy” rating on shares of Amazon.com in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Amazon.com from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Moffett Nathanson upped their price target on shares of Amazon.com from $250.00 to $253.00 and gave the company a “buy” rating in a research note on Tuesday, June 24th. Finally, Barclays upped their price target on shares of Amazon.com from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus target price of $262.45.

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.