Amazon.com, Inc. (NASDAQ:AMZN) Stake Lowered by Mechanics Financial Corp

Mechanics Financial Corp decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,867 shares of the e-commerce giant’s stock after selling 171 shares during the period. Amazon.com accounts for 1.8% of Mechanics Financial Corp’s portfolio, making the stock its 12th largest position. Mechanics Financial Corp’s holdings in Amazon.com were worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new position in Amazon.com in the 4th quarter worth approximately $137,000. Hobbs Group Advisors LLC boosted its position in Amazon.com by 29.7% during the 4th quarter. Hobbs Group Advisors LLC now owns 9,889 shares of the e-commerce giant’s stock worth $2,170,000 after acquiring an additional 2,265 shares during the period. Allstate Corp boosted its position in Amazon.com by 3,305.4% during the 4th quarter. Allstate Corp now owns 280,501 shares of the e-commerce giant’s stock worth $61,539,000 after acquiring an additional 272,264 shares during the period. Maridea Wealth Management LLC bought a new position in shares of Amazon.com in the fourth quarter worth $1,870,000. Finally, RiverFront Investment Group LLC increased its holdings in shares of Amazon.com by 8.5% during the fourth quarter. RiverFront Investment Group LLC now owns 186,825 shares of the e-commerce giant’s stock valued at $40,988,000 after purchasing an additional 14,561 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock valued at $23,341,803 over the last quarter. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 0.7 %

Shares of NASDAQ AMZN opened at $187.70 on Tuesday. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 33.94, a PEG ratio of 1.50 and a beta of 1.39. The business has a 50 day simple moving average of $192.74 and a 200 day simple moving average of $208.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping 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%. On average, research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $195.00 target price (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. HSBC increased their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 13th. JMP Securities dropped their target price on Amazon.com from $285.00 to $240.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. Telsey Advisory Group decreased their price target on Amazon.com from $275.00 to $235.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Maxim Group boosted their price objective on Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.73.

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.