Pinnacle Financial Partners Inc Sells 9,494 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Financial Partners Inc trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 891,176 shares of the e-commerce giant’s stock after selling 9,494 shares during the period. Amazon.com makes up 3.3% of Pinnacle Financial Partners Inc’s holdings, making the stock its 5th largest holding. Pinnacle Financial Partners Inc’s holdings in Amazon.com were worth $166,053,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Hartline Investment Corp raised its holdings in Amazon.com by 3.5% in the 3rd quarter. Hartline Investment Corp now owns 163,240 shares of the e-commerce giant’s stock valued at $30,417,000 after acquiring an additional 5,596 shares in the last quarter. Mengis Capital Management Inc. increased its position in shares of Amazon.com by 1.4% in the third quarter. Mengis Capital Management Inc. now owns 39,000 shares of the e-commerce giant’s stock worth $7,267,000 after purchasing an additional 540 shares during the period. Gibson Wealth Advisors LLC raised its stake in Amazon.com by 5.2% in the third quarter. Gibson Wealth Advisors LLC now owns 2,025 shares of the e-commerce giant’s stock valued at $377,000 after purchasing an additional 100 shares in the last quarter. Hamel Associates Inc. raised its stake in Amazon.com by 2.2% in the third quarter. Hamel Associates Inc. now owns 4,095 shares of the e-commerce giant’s stock valued at $763,000 after purchasing an additional 90 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC lifted its position in Amazon.com by 3.5% during the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 18,319 shares of the e-commerce giant’s stock worth $3,586,000 after purchasing an additional 615 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. 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. DA Davidson reiterated a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Insider Activity at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $225.06 on Tuesday. Amazon.com, Inc. has a 52 week low of $144.05 and a 52 week high of $233.00. The company has a 50-day moving average price of $205.83 and a 200 day moving average price of $191.46. The company has a market cap of $2.37 trillion, a P/E ratio of 48.19, a PEG ratio of 1.54 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly 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. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

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.