RiverFront Investment Group LLC Has $40.99 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

RiverFront Investment Group LLC boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,825 shares of the e-commerce giant's stock after purchasing an additional 14,561 shares during the quarter. RiverFront Investment Group LLC's holdings in Amazon.com were worth $40,988,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rench Wealth Management Inc. increased its stake in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant's stock worth $9,392,000 after acquiring an additional 3,703 shares during the last quarter. Momentous Wealth Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter valued at approximately $749,000. Segall Bryant & Hamill LLC grew its stake in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock worth $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Blankinship & Foster LLC grew its stake in Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant's stock worth $1,291,000 after purchasing an additional 4,740 shares in the last quarter. Finally, One Wealth Capital Management LLC purchased a new position in Amazon.com in the fourth quarter worth approximately $4,270,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian T. Olsavsky sold 14,620 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $10,933,860. The trade was a 22.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Amazon.com in a research note on Thursday, February 13th. Maxim Group raised their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Piper Sandler reissued an "overweight" rating and set a $265.00 target price (up from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Finally, Loop Capital boosted their price target on Amazon.com from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.50.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded down $2.97 on Wednesday, reaching $184.42. 53,144,589 shares of the company's stock were exchanged, compared to its average volume of 41,879,443. 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 twelve month low of $151.61 and a twelve month high of $242.52. The company has a fifty day moving average of $192.03 and a 200-day moving average of $207.90. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company 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.