Orrstown Financial Services Inc. Reduces Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Orrstown Financial Services Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,402 shares of the e-commerce giant's stock after selling 1,887 shares during the quarter. Amazon.com comprises approximately 0.7% of Orrstown Financial Services Inc.'s portfolio, making the stock its 15th largest holding. Orrstown Financial Services Inc.'s holdings in Amazon.com were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Momentous Wealth Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter valued at about $749,000. Segall Bryant & Hamill LLC grew its holdings in shares of Amazon.com by 14.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after buying an additional 39,696 shares during the last quarter. Bearing Point Capital LLC acquired a new position in Amazon.com in the 4th quarter valued at about $12,014,000. Evergreen Capital Management LLC raised its stake in Amazon.com by 0.5% during the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock valued at $53,213,000 after acquiring an additional 1,198 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Amazon.com by 173.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock valued at $759,434,000 after purchasing an additional 2,196,353 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMZN. JPMorgan Chase & Co. boosted their target price on Amazon.com from $225.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Benchmark reiterated a "buy" rating and issued a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Evercore ISI cut their price objective on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. BNP Paribas upgraded shares of Amazon.com to a "hold" rating in a research note on Wednesday, April 30th. Finally, Truist Financial dropped their price target on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. 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 $245.64.

Amazon.com Trading Up 2.1%

Shares of AMZN stock traded up $4.30 during mid-day trading on Tuesday, hitting $212.77. 38,326,092 shares of the company's stock were exchanged, compared to its average volume of 42,125,634. The stock has a market cap of $2.26 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 1.58 and a beta of 1.33. The stock has a 50-day simple moving average of $198.94 and a two-hundred day simple moving average of $209.04. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

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

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $204.98, for a total value of $512,450.00. Following the transaction, the chief executive officer now owns 517,050 shares in the company, valued at approximately $105,984,909. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 13,570 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total value of $2,746,703.70. Following the sale, the senior vice president now owns 47,030 shares of the company's stock, valued at $9,519,342.30. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,037 shares of company stock worth $20,531,075. 9.70% of the stock is owned by company insiders.

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.