Bridges Investment Management Inc. Trims Position in Amazon.com, Inc. (NASDAQ:AMZN)

Bridges Investment Management Inc. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697,460 shares of the e-commerce giant’s stock after selling 7,996 shares during the quarter. Amazon.com accounts for approximately 3.5% of Bridges Investment Management Inc.’s portfolio, making the stock its 6th largest holding. Bridges Investment Management Inc.’s holdings in Amazon.com were worth $105,972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Register Financial Advisors LLC boosted its holdings in shares of Amazon.com by 14.3% during the third quarter. Register Financial Advisors LLC now owns 5,263 shares of the e-commerce giant’s stock worth $669,000 after purchasing an additional 657 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Amazon.com by 1.0% during the third quarter. Wedge Capital Management L L P NC now owns 14,613 shares of the e-commerce giant’s stock worth $1,858,000 after purchasing an additional 148 shares during the period. Cherrydale Wealth Management LLC boosted its holdings in shares of Amazon.com by 14.7% during the fourth quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after purchasing an additional 675 shares during the period. Tompkins Financial Corp boosted its holdings in shares of Amazon.com by 3.3% during the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock worth $10,875,000 after purchasing an additional 2,273 shares during the period. Finally, Nicholas Company Inc. lifted its holdings in Amazon.com by 3.9% in the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after buying an additional 26,465 shares during the period. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $181.28 on Thursday. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 62.51, a PEG ratio of 1.60 and a beta of 1.16. Amazon.com, Inc. has a 12 month low of $101.15 and a 12 month high of $189.77. The firm’s 50-day moving average is $177.09 and its 200 day moving average is $156.36. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, beating the consensus estimate of $0.81 by $0.19. The company had revenue of $169.96 billion for the quarter, compared to the consensus estimate of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. Research analysts predict that Amazon.com, Inc. will post 4.08 EPS for the current year.

Analyst Upgrades and Downgrades

AMZN has been the subject of several research analyst reports. TD Cowen raised their price objective on shares of Amazon.com from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Amazon.com in a report on Wednesday, April 10th. Maxim Group initiated coverage on shares of Amazon.com in a report on Wednesday. They issued a “buy” rating and a $218.00 price objective for the company. Robert W. Baird raised their price objective on shares of Amazon.com from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Monness Crespi & Hardt raised their price objective on shares of Amazon.com from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $202.80.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the transaction, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $155.72, for a total value of $77,860.00. Following the transaction, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,009,208 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the completion of the transaction, the insider now owns 938,251,817 shares in the company, valued at $156,491,020,557.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,213,510 shares of company stock worth $5,505,798,456. Insiders own 12.70% of the company’s stock.

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.