Kennebec Savings Bank Sells 150 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Kennebec Savings Bank lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,391 shares of the e-commerce giant’s stock after selling 150 shares during the quarter. Amazon.com accounts for about 2.9% of Kennebec Savings Bank’s holdings, making the stock its 3rd biggest holding. Kennebec Savings Bank’s holdings in Amazon.com were worth $2,925,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AMZN. Accordant Advisory Group Inc boosted its position in 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 last quarter. Hoese & Co LLP purchased a new stake in Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com in the third quarter valued at approximately $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com in the third quarter valued at approximately $56,000. Finally, IFS Advisors LLC boosted its position in Amazon.com by 1,625.0% in the fourth quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the transaction, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,852 shares of company stock valued at $9,324,151. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Redburn Atlantic upped their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. DA Davidson upped their target price on Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and issued a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Bank of America upped their price objective on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, HSBC upped their price objective on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Stock Down 2.8 %

Shares of AMZN opened at $216.58 on Friday. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a market capitalization of $2.30 trillion, a PE ratio of 39.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The stock has a fifty day simple moving average of $227.88 and a two-hundred day simple moving average of $203.96. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.