Pathway Financial Advisers LLC Purchases 1,303,648 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pathway Financial Advisers LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 19,273.3% during the third quarter, HoldingsChannel reports. The firm owned 1,310,412 shares of the e-commerce giant’s stock after buying an additional 1,303,648 shares during the quarter. Amazon.com comprises 1.6% of Pathway Financial Advisers LLC’s portfolio, making the stock its 17th largest holding. Pathway Financial Advisers LLC’s holdings in Amazon.com were worth $244,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. Capital Research Global Investors lifted its position in 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 valued at $15,689,968,000 after acquiring an additional 6,810,145 shares in the last quarter. Legal & General Group Plc lifted its position in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Finally, Capital International Investors lifted its position in Amazon.com by 7.4% in the 1st quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock valued at $7,642,732,000 after acquiring an additional 2,932,192 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on AMZN. TD Cowen boosted their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America boosted their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. DA Davidson reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Stock Performance

NASDAQ AMZN opened at $207.89 on Friday. The company’s 50 day moving average is $194.78 and its 200-day moving average is $186.94. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.19 trillion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $142.81 and a 12-month high of $215.90.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. Sell-side analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the completion of the transaction, the director now directly owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,026,683 shares of company stock valued at $1,252,148,795 in the last quarter. Corporate 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.