Arrow Financial Corp Trims Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Arrow Financial Corp lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,254 shares of the e-commerce giant's stock after selling 3,193 shares during the period. Amazon.com accounts for 1.4% of Arrow Financial Corp's investment portfolio, making the stock its 16th largest position. Arrow Financial Corp's holdings in Amazon.com were worth $14,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMZN. Blue Rock Wealth Management LLC purchased a new stake in Amazon.com during the 4th quarter worth about $2,389,000. Cypress Advisory Group LLC bought a new position in Amazon.com during the 4th quarter worth approximately $1,518,000. ArborFi Advisors LLC bought a new position in Amazon.com during the 4th quarter worth approximately $260,000. Mercer Global Advisors Inc. ADV bought a new position in Amazon.com during the 4th quarter worth approximately $338,068,000. Finally, Itau Unibanco Holding S.A. grew its position in Amazon.com by 25.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 365,875 shares of the e-commerce giant's stock worth $80,624,000 after acquiring an additional 75,339 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 25th. Evercore ISI lowered their price objective on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. BNP Paribas upgraded Amazon.com to a "hold" rating in a research note on Wednesday, April 30th. Rosenblatt Securities lifted their target price on Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Amazon.com in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $244.09.

Insider Activity

In other news, SVP David Zapolsky sold 19,212 shares of the firm's 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 sale, the senior vice president now directly owns 49,950 shares in the company, valued at $10,864,125. This trade represents a 27.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $210.68, for a total value of $210,680.00. Following the sale, the director now owns 5,465 shares in the company, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,749 shares of company stock worth $24,197,235. Insiders own 9.70% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $2.11 during mid-day trading on Friday, reaching $200.99. The stock had a trading volume of 33,340,050 shares, compared to its average volume of 42,020,996. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The business's 50 day moving average price is $190.05 and its 200 day moving average price is $208.80. The company has a market cap of $2.13 trillion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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 was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

About Amazon.com

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.