Arrow Financial Corp Has $14.32 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Arrow Financial Corp cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,254 shares of the e-commerce giant's stock after selling 3,193 shares during the quarter. Amazon.com comprises 1.4% of Arrow Financial Corp's portfolio, making the stock its 16th biggest holding. Arrow Financial Corp's holdings in Amazon.com were worth $14,316,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMZN. Accordant Advisory Group Inc grew its holdings in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after buying an additional 100 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter valued at $27,000. LSV Asset Management bought a new stake in shares of Amazon.com during the 4th quarter valued at $35,000. Perritt Capital Management Inc lifted its position in shares of Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after buying an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC lifted its position in shares of Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after buying an additional 45 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 4,784 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $205.05, for a total value of $980,959.20. Following the transaction, the chief executive officer now owns 514,150 shares in the company, valued at $105,426,457.50. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,081 shares of company stock valued at $17,421,044. Insiders own 9.70% of the company's stock.

Amazon.com Trading Down 1.4%

Shares of AMZN stock opened at $201.12 on Thursday. 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 business has a 50-day moving average price of $189.74 and a two-hundred day moving average price of $208.74. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm has a market cap of $2.14 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating 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 company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMZN. Benchmark restated a "buy" rating and set a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Telsey Advisory Group restated an "outperform" rating and set a $235.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Rosenblatt Securities upped their price objective on Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Canaccord Genuity Group reiterated a "buy" rating on shares of Amazon.com in a research report on Thursday, February 13th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $212.00 target price (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $244.09.

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.

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