Amazon.com, Inc. (NASDAQ:AMZN) is Peapack Gladstone Financial Corp's 8th Largest Position

Peapack Gladstone Financial Corp cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,374 shares of the e-commerce giant's stock after selling 11,161 shares during the period. Amazon.com accounts for 1.7% of Peapack Gladstone Financial Corp's holdings, making the stock its 8th biggest holding. Peapack Gladstone Financial Corp's holdings in Amazon.com were worth $115,043,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sassicaia Capital Advisers LLC purchased a new position in shares of Amazon.com in the 3rd quarter worth $279,000. Howard Capital Management Group LLC lifted its holdings in shares of Amazon.com by 0.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant's stock valued at $66,434,000 after acquiring an additional 897 shares during the last quarter. Principal Financial Group Inc. grew its position in Amazon.com by 5.1% in the third quarter. Principal Financial Group Inc. now owns 20,166,314 shares of the e-commerce giant's stock worth $3,757,589,000 after acquiring an additional 984,570 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Amazon.com by 25.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 367,604 shares of the e-commerce giant's stock worth $68,485,000 after acquiring an additional 73,696 shares during the last quarter. Finally, Concentric Wealth Management LLC raised its position in Amazon.com by 3.4% during the third quarter. Concentric Wealth Management LLC now owns 12,266 shares of the e-commerce giant's stock valued at $2,286,000 after purchasing an additional 402 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of AMZN traded up $3.70 during trading hours on Wednesday, reaching $188.71. 43,929,015 shares of the company traded hands, compared to its average volume of 41,656,015. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 34.12, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average price of $189.45 and a 200-day moving average price of $207.88. 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company's revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $190.67, for a total transaction of $476,675.00. Following the completion of the transaction, the chief executive officer now owns 506,974 shares of the company's stock, valued at $96,664,732.58. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the completion of the sale, the senior vice president now directly owns 49,950 shares in the company, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,298 shares of company stock valued at $23,818,478. 9.70% of the stock is owned by insiders.

Analyst Ratings Changes

AMZN has been the subject of a number of recent research reports. Royal Bank of Canada dropped their target price on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Amazon.com in a research note on Thursday, February 13th. Tigress Financial increased their target price on shares of Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday. DA Davidson dropped their price target on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Oppenheimer reduced their price objective on shares of Amazon.com from $260.00 to $220.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $244.09.

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.