Pinnacle Bancorp Inc. Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Bancorp Inc. decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,470 shares of the e-commerce giant’s stock after selling 74 shares during the quarter. Amazon.com makes up 1.3% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 9th biggest holding. Pinnacle Bancorp Inc.’s holdings in Amazon.com were worth $4,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AMZN. Collective Family Office LLC increased its stake in Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after buying an additional 819 shares in the last quarter. Members Trust Co grew its position in shares of Amazon.com by 8.9% during the fourth quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock worth $638,000 after purchasing an additional 341 shares in the last quarter. Cherrydale Wealth Management LLC grew its position 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 in the last quarter. Tompkins Financial Corp raised its stake in Amazon.com by 3.3% during the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $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 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after purchasing an additional 26,465 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 1.2 %

Shares of NASDAQ AMZN opened at $197.59 on Thursday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $200.43. The firm has a market cap of $2.06 trillion, a PE ratio of 55.35, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The business has a fifty day simple moving average of $184.68 and a two-hundred day simple moving average of $173.98. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts expect that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Shelley Reynolds sold 2,700 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total transaction of $489,753.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $21,726,894.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $181.38, for a total transaction of $90,690.00. Following the completion of the sale, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at $23,688,228. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 2,700 shares of Amazon.com stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $21,726,894.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,548 shares of company stock worth $12,774,204. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMZN has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Maxim Group decreased their price target on shares of Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Barclays raised their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their target price on Amazon.com from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Tigress Financial raised their price target on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Buy” and a consensus price target of $215.86.

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.