Parcion Private Wealth LLC Has $12.75 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Parcion Private Wealth LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,013 shares of the e-commerce giant’s stock after acquiring an additional 2,476 shares during the period. Amazon.com comprises about 1.0% of Parcion Private Wealth LLC’s portfolio, making the stock its 23rd largest holding. Parcion Private Wealth LLC’s holdings in Amazon.com were worth $12,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares during the period. FMR LLC grew its position in shares of Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after acquiring an additional 1,725,664 shares during the period. Geode Capital Management LLC grew its position in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after acquiring an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after acquiring an additional 4,087,933 shares during the period. Finally, Norges Bank bought a new stake in shares of Amazon.com during the 4th quarter worth about $27,266,582,000. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several research analyst reports. Pivotal Research lifted their target price on shares of Amazon.com from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Cantor Fitzgerald lifted their target price on shares of Amazon.com from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wedbush lifted their target price on shares of Amazon.com from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. HSBC lifted their target price on shares of Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lifted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $262.45.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.66 on Thursday. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The company has a 50-day simple moving average of $220.60 and a 200 day simple moving average of $208.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The company has a market capitalization of $2.40 trillion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the completion of the sale, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company’s stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,096,253 shares of company stock valued at $5,673,745,409 in the last 90 days. 9.70% of the stock is currently owned by corporate insiders.

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.