Amazon.com, Inc. (NASDAQ:AMZN) is Townsend Asset Management Corp NC ADV's 3rd Largest Position

Townsend Asset Management Corp NC ADV raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,366 shares of the e-commerce giant's stock after buying an additional 3,493 shares during the period. Amazon.com comprises 4.8% of Townsend Asset Management Corp NC ADV's portfolio, making the stock its 3rd largest holding. 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 hedge funds and other institutional investors have also added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the 4th quarter worth approximately $27,000. LSV Asset Management bought a new stake in shares of Amazon.com during the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc raised its position in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after buying an additional 80 shares during the last quarter. Finally, Compass Planning Associates Inc purchased a new position in shares of Amazon.com in the fourth quarter worth $51,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMZN. The Goldman Sachs Group dropped their target price on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. BNP Paribas Exane upgraded Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price objective for the company in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, DA Davidson cut their price objective 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. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $249.42.

Amazon.com Stock Up 1.2%

Shares of NASDAQ AMZN traded up $2.76 during mid-day trading on Friday, reaching $225.02. 50,481,094 shares of the company were exchanged, compared to its average volume of 42,098,837. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 36.65, a P/E/G ratio of 1.67 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a 50-day moving average of $209.20 and a 200 day moving average of $208.66.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS 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 analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other Amazon.com news, insider Jeffrey P. Bezos sold 384,124 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $224.02, for a total transaction of $86,051,458.48. Following the completion of the sale, the insider directly owned 901,995,325 shares of the company's stock, valued at approximately $202,064,992,706.50. This represents a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 13,570 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,886,613 shares of company stock valued at $1,531,840,610. Corporate insiders own 9.70% 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.