Bridges Investment Management Inc. Has $348.76 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Bridges Investment Management Inc. trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,589,671 shares of the e-commerce giant’s stock after selling 30,083 shares during the quarter. Amazon.com accounts for approximately 4.9% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Bridges Investment Management Inc.’s holdings in Amazon.com were worth $348,758,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMZN. State Street Corp raised its holdings in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Amazon.com by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock valued at $14,719,407,000 after purchasing an additional 545,292 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after buying an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Amazon.com by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after purchasing an additional 1,980,663 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several analyst reports. Maxim Group increased their target price on Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Sanford C. Bernstein lifted their price target on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Jefferies Financial Group lowered their target price on Amazon.com from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Monday. Barclays increased their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Piper Sandler restated an “overweight” rating and set a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $260.53.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $196.01 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $214.60 and its 200 day moving average price is $209.22. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.50 and a beta of 1.19.

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

Insider Buying and Selling

In other news, SVP David Zapolsky sold 19,212 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the sale, the senior vice president now owns 49,950 shares in the company, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the completion of the transaction, the chief executive officer now owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,298 shares of company stock valued at $22,871,828. 10.80% of the stock is currently owned by company insiders.

Amazon.com 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.