Progressive Investment Management Corp Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Progressive Investment Management Corp grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,423 shares of the e-commerce giant’s stock after acquiring an additional 96 shares during the period. Amazon.com accounts for 7.0% of Progressive Investment Management Corp’s holdings, making the stock its 3rd biggest holding. Progressive Investment Management Corp’s holdings in Amazon.com were worth $19,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Advanced Research Investment Solutions LLC bought a new position in Amazon.com in the 4th quarter worth about $26,000. Resolute Partners Group bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $26,000. Cowa LLC bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $32,000. Fusion Family Wealth LLC bought a new position in shares of Amazon.com during the first quarter valued at approximately $31,000. Finally, Tacita Capital Inc bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 57.05% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and set a $4,360.00 price objective on shares of Amazon.com in a research note on Tuesday, May 25th. KeyCorp increased their price objective on shares of Amazon.com from $3,700.00 to $4,000.00 and gave the company an “overweight” rating in a research note on Friday, April 30th. Susquehanna increased their price objective on shares of Amazon.com from $5,200.00 to $5,500.00 and gave the company a “positive” rating in a research note on Friday, April 30th. Susquehanna Bancshares increased their price objective on shares of Amazon.com from $5,200.00 to $5,500.00 and gave the company a “positive” rating in a research note on Friday, April 30th. Finally, Raymond James increased their price objective on shares of Amazon.com from $4,000.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. Two equities research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company’s stock. Amazon.com presently has a consensus rating of “Buy” and an average target price of $4,168.98.

Shares of Amazon.com stock opened at $3,349.65 on Friday. The stock has a 50-day moving average price of $3,289.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.85 and a current ratio of 1.05. Amazon.com, Inc. has a fifty-two week low of $2,503.35 and a fifty-two week high of $3,554.00. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 63.74, a P/E/G ratio of 2.00 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Wednesday, April 28th. The e-commerce giant reported $15.79 earnings per share for the quarter, topping analysts’ consensus estimates of $9.54 by $6.25. The company had revenue of $108.52 billion during the quarter, compared to analysts’ expectations of $105.23 billion. Amazon.com had a return on equity of 30.47% and a net margin of 6.42%. As a group, sell-side analysts expect that Amazon.com, Inc. will post 57.12 earnings per share for the current fiscal year.

In other Amazon.com news, CEO David H. Clark sold 278 shares of the stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $3,506.80, for a total transaction of $974,890.40. Following the transaction, the chief executive officer now owns 1,174 shares in the company, valued at $4,116,983.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 492 shares of the stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $3,250.00, for a total value of $1,599,000.00. Following the transaction, the chief executive officer now owns 85,264 shares in the company, valued at approximately $277,108,000. The disclosure for this sale can be found here. Insiders have sold 131,040 shares of company stock worth $449,201,684 in the last quarter. 14.00% of the stock is currently owned by company insiders.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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