Cary Street Partners Financial LLC Invests $45.58 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Cary Street Partners Financial LLC acquired a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 207,767 shares of the e-commerce giant's stock, valued at approximately $45,582,000. Amazon.com comprises approximately 1.5% of Cary Street Partners Financial LLC's portfolio, making the stock its 7th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Momentous Wealth Management Inc. bought a new position in Amazon.com in the fourth quarter worth $749,000. Segall Bryant & Hamill LLC lifted its position in Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after purchasing an additional 39,696 shares during the period. Evergreen Capital Management LLC lifted its position in Amazon.com by 0.5% in the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock worth $53,213,000 after purchasing an additional 1,198 shares during the period. Bearing Point Capital LLC bought a new position in Amazon.com in the fourth quarter worth $12,014,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Amazon.com by 173.6% in the fourth 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 period. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the completion of the transaction, the chief executive officer now directly owns 506,974 shares in the company, valued at approximately $96,664,732.58. The trade was a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 19,872 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the completion of the transaction, the chief executive officer now owns 2,148,694 shares of the company's stock, valued at $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 99,537 shares of company stock worth $20,018,625. 9.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMZN has been the subject of several research reports. Royal Bank of Canada reduced their target price on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Mizuho reduced their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. JMP Securities reissued a "market outperform" rating on shares of Amazon.com in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective on Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Barclays cut 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, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $244.09.

Amazon.com Trading Up 2.5%

Shares of Amazon.com stock traded up $5.03 during trading on Tuesday, hitting $206.02. 34,776,251 shares of the company were exchanged, compared to its average volume of 41,992,480. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The firm's fifty day moving average price is $190.38 and its 200 day moving average price is $208.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The company 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%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.