Amazon.com, Inc. (NASDAQ:AMZN) Position Reduced by Pitcairn Co.

Pitcairn Co. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 147,296 shares of the e-commerce giant’s stock after selling 14,439 shares during the quarter. Amazon.com comprises 1.6% of Pitcairn Co.’s portfolio, making the stock its 11th largest holding. Pitcairn Co.’s holdings in Amazon.com were worth $27,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Semus Wealth Partners LLC raised its holdings in shares of Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the period. Meridian Investment Counsel Inc. increased its position in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares in the last quarter. O Connor Financial Group LLC raised its stake in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares during the period. Cherrydale Wealth Management LLC boosted its holdings in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after acquiring an additional 55 shares in the last quarter. Finally, Cedar Point Capital Partners LLC grew its stake in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after acquiring an additional 56 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN opened at $224.19 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $212.34 and a 200-day moving average price of $193.77. The company has a market cap of $2.36 trillion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on AMZN. Robert W. Baird boosted their price target on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Maxim Group boosted their target price on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Roth Mkm raised their price target on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Sanford C. Bernstein increased their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus raised their target price on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $243.44.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 over the last 90 days. 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.