Central Pacific Bank Trust Division Has $14.75 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Central Pacific Bank Trust Division reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,526 shares of the e-commerce giant's stock after selling 6,026 shares during the quarter. Amazon.com accounts for 2.0% of Central Pacific Bank Trust Division's investment portfolio, making the stock its 6th biggest holding. Central Pacific Bank Trust Division's holdings in Amazon.com were worth $14,750,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in Amazon.com in the 4th quarter worth about $800,000. Capital & Planning LLC increased its holdings in Amazon.com by 72.1% in the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after buying an additional 1,635 shares during the last quarter. LaFleur & Godfrey LLC raised its position in Amazon.com by 1.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock valued at $10,839,000 after acquiring an additional 860 shares in the last quarter. Independent Wealth Network Inc. lifted its stake in Amazon.com by 11.3% in the fourth quarter. Independent Wealth Network Inc. now owns 13,465 shares of the e-commerce giant's stock valued at $2,954,000 after acquiring an additional 1,364 shares during the last quarter. Finally, Wendell David Associates Inc. grew its position in Amazon.com by 0.5% in the fourth quarter. Wendell David Associates Inc. now owns 41,349 shares of the e-commerce giant's stock worth $9,072,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $0.63 during midday trading on Tuesday, reaching $217.61. The company had a trading volume of 31,226,326 shares, compared to its average volume of 45,016,777. 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 stock has a fifty day simple moving average of $192.26 and a 200 day simple moving average of $208.96. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating 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 company had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the firm earned $0.98 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Telsey Advisory Group reissued an "outperform" rating and set a $235.00 target price on shares of Amazon.com in a research report on Friday, May 2nd. Stifel Nicolaus reduced their price target on Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Mizuho decreased their price target on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Phillip Securities downgraded Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus price target of $244.89.

Insiders Place Their Bets

In other news, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the transaction, the director now owns 5,465 shares of the company's stock, valued at $1,151,366.20. This represents a 15.47% decrease in their position. The transaction 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 Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the sale, the chief executive officer now directly owns 506,974 shares of the company's stock, valued at approximately $96,664,732.58. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,037 shares of company stock valued at $20,531,075. 9.70% of the stock is currently owned by insiders.

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.