Parsons Capital Management Inc. RI Has $54.25 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Parsons Capital Management Inc. RI reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,108 shares of the e-commerce giant's stock after selling 3,343 shares during the quarter. Amazon.com makes up 3.0% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 6th largest position. Parsons Capital Management Inc. RI's holdings in Amazon.com were worth $54,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the fourth quarter worth $35,000. Perritt Capital Management Inc raised its holdings in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Amazon.com in the fourth quarter valued at $51,000. Finally, Quattro Financial Advisors LLC boosted its stake in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Scotiabank cut their target price on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Wall Street Zen lowered shares of Amazon.com from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Raymond James Financial reissued an "outperform" rating and set a $195.00 price objective (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Jefferies Financial Group lowered their target price on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley cut their price target on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.81.

Amazon.com Stock Up 2.8%

NASDAQ:AMZN traded up $6.18 during trading hours on Friday, hitting $223.30. The stock had a trading volume of 119,087,933 shares, compared to its average volume of 42,021,779. The company has a market cap of $2.37 trillion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.33. The business has a 50 day simple moving average of $202.26 and a two-hundred day simple moving average of $208.86. 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.

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

Insiders Place Their Bets

In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now directly owns 5,465 shares in the company, valued at $1,151,366.20. The trade was a 15.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $190.67, for a total value of $476,675.00. Following the transaction, the chief executive officer now 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. Insiders have sold 102,037 shares of company stock worth $20,531,075 in the last quarter. 9.70% of the stock is owned by corporate 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.