Congress Asset Management Co. Sells 1,691 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Congress Asset Management Co. cut its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 925,343 shares of the e-commerce giant's stock after selling 1,691 shares during the quarter. Amazon.com makes up approximately 1.3% of Congress Asset Management Co.'s investment portfolio, making the stock its 8th largest position. Congress Asset Management Co.'s holdings in Amazon.com were worth $176,056,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC acquired a new position in Amazon.com in the fourth quarter valued at approximately $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at approximately $27,000. LSV Asset Management acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $35,000. Perritt Capital Management Inc raised its stake 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 period. Finally, Quattro Financial Advisors LLC raised its stake 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 period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Down 1.3%

AMZN traded down $2.83 during mid-day trading on Friday, hitting $209.69. 75,281,131 shares of the stock were exchanged, compared to its average volume of 42,283,283. The firm's fifty day moving average is $198.41 and its two-hundred day moving average is $209.31. 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 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.23 trillion, a PE ratio of 34.15, a PEG ratio of 1.61 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Equities analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $204.98, for a total value of $512,450.00. Following the sale, the chief executive officer now owns 517,050 shares of the company's stock, valued at $105,984,909. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 2,695 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,037 shares of company stock valued at $20,531,075 in the last quarter. Corporate insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Wall Street Zen downgraded Amazon.com from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Scotiabank dropped their price target on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Citigroup reiterated a "buy" rating on shares of Amazon.com in a research report on Monday, June 2nd. Piper Sandler reiterated an "overweight" rating and set a $212.00 price target (down from $215.00) on shares of Amazon.com in a research report on Friday, May 2nd. Finally, DA Davidson dropped their price target on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $245.53.

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.