Townsend Asset Management Corp NC ADV Has $12.44 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Townsend Asset Management Corp NC ADV increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,366 shares of the e-commerce giant's stock after purchasing an additional 3,493 shares during the period. Amazon.com makes up 4.8% of Townsend Asset Management Corp NC ADV's portfolio, making the stock its 3rd biggest position. Townsend Asset Management Corp NC ADV's holdings in Amazon.com were worth $12,437,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMZN. Curran Financial Partners LLC lifted its holdings in shares of Amazon.com by 11.8% in the first quarter. Curran Financial Partners LLC now owns 7,793 shares of the e-commerce giant's stock valued at $1,483,000 after purchasing an additional 824 shares in the last quarter. Advisory Resource Group lifted its stake in Amazon.com by 3.4% in the 1st quarter. Advisory Resource Group now owns 11,067 shares of the e-commerce giant's stock valued at $2,106,000 after acquiring an additional 366 shares in the last quarter. ERn Financial LLC boosted its position in Amazon.com by 3.1% during the 1st quarter. ERn Financial LLC now owns 19,823 shares of the e-commerce giant's stock worth $3,772,000 after acquiring an additional 594 shares during the last quarter. Matthew Goff Investment Advisor LLC grew its stake in shares of Amazon.com by 4.8% during the 1st quarter. Matthew Goff Investment Advisor LLC now owns 9,960 shares of the e-commerce giant's stock worth $1,895,000 after acquiring an additional 455 shares in the last quarter. Finally, ORG Wealth Partners LLC raised its holdings in shares of Amazon.com by 62.9% in the first quarter. ORG Wealth Partners LLC now owns 26,656 shares of the e-commerce giant's stock valued at $5,122,000 after purchasing an additional 10,290 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMZN has been the subject of several recent research reports. Scotiabank reduced 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 report on Monday, April 21st. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. DA Davidson lowered their target price on Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Oppenheimer upped their target price on Amazon.com from $215.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, Piper Sandler restated an "overweight" rating and issued a $212.00 price target (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $246.41.

Amazon.com Price Performance

AMZN traded up $3.18 on Wednesday, hitting $222.54. 38,059,198 shares of the stock were exchanged, compared to its average volume of 42,075,237. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 36.24, a PEG ratio of 1.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The business has a 50-day moving average of $207.80 and a two-hundred day moving average of $208.58.

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 for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The company 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 firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares of the company's stock, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 13,570 shares of the business'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 transaction, the senior vice president directly owned 47,030 shares of the company's stock, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,401,408 shares of company stock valued at $1,423,159,137. Corporate insiders own 10.80% of the company's stock.

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.