PVG Asset Management Corp Takes $743,000 Position in Amazon.com, Inc. (NASDAQ:AMZN)

PVG Asset Management Corp acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,386 shares of the e-commerce giant's stock, valued at approximately $743,000. Amazon.com comprises about 3.5% of PVG Asset Management Corp's portfolio, making the stock its 8th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new position in Amazon.com in the fourth quarter valued at about $25,000. Accordant Advisory Group Inc boosted its holdings in shares of Amazon.com by 400.0% in the fourth 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 during the period. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter worth $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com during the fourth quarter worth $35,000. Finally, Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of the 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 completion of the sale, the chief executive officer now directly owns 517,050 shares in the company, valued at approximately $105,984,909. This represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,000,233.60. Following the completion of the sale, the chief executive officer now directly owns 2,148,694 shares of the company's stock, valued at $432,532,102.20. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,037 shares of company stock valued at $20,531,075. Insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Raymond James reaffirmed an "outperform" rating and issued a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Tigress Financial raised their price target on Amazon.com from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Telsey Advisory Group reiterated an "outperform" rating and set a $235.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Truist Financial dropped their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Citizens Jmp lowered their price target on shares of Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and an average price target of $244.89.

Amazon.com Stock Performance

Shares of AMZN opened at $207.91 on Friday. The company has a 50-day moving average of $191.41 and a two-hundred day moving average of $208.65. The stock has a market cap of $2.21 trillion, a P/E ratio of 37.60, a PEG ratio of 1.50 and a beta of 1.33. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 24.25% and a net margin of 9.29%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.

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