Pettinga Financial Advisors LLC Has $1.02 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pettinga Financial Advisors LLC grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,287 shares of the e-commerce giant’s stock after purchasing an additional 290 shares during the period. Pettinga Financial Advisors LLC’s holdings in Amazon.com were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AMZN. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. Norges Bank acquired a new stake in shares of Amazon.com in the 4th quarter worth about $17,700,551,000. Capital Research Global Investors raised its holdings in shares of Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after acquiring an additional 295,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amazon.com by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock worth $7,888,870,000 after acquiring an additional 1,525,922 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 0.3 %

Shares of AMZN opened at $186.49 on Monday. The firm’s 50-day moving average price is $179.51 and its 200-day moving average price is $181.68. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 52.24, a PEG ratio of 1.39 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Sell-side analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Wolfe Research began coverage on shares of Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Piper Sandler reduced their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, BMO Capital Markets upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus target price of $222.49.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the sale, the senior vice president now owns 59,500 shares of the company’s stock, valued at $11,602,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,104,317 shares of company stock valued at $1,220,621,322. Insiders own 10.80% of the company’s stock.

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.