Pegasus Asset Management Inc. Purchases 447 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pegasus Asset Management Inc. lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,036 shares of the e-commerce giant’s stock after acquiring an additional 447 shares during the period. Amazon.com makes up about 2.6% of Pegasus Asset Management Inc.’s portfolio, making the stock its 12th largest holding. Pegasus Asset Management Inc.’s holdings in Amazon.com were worth $6,901,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Garrison Point Advisors LLC lifted its holdings in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. raised 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 during the last quarter. O Connor Financial Group LLC raised its position in Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after buying an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its position in Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the last quarter. Finally, O Dell Group LLC raised its position in Amazon.com by 0.4% in the 1st quarter. O Dell Group LLC now owns 13,638 shares of the e-commerce giant’s stock valued at $2,460,000 after buying an additional 57 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMZN shares. Jefferies Financial Group increased their price target on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen increased their price target on 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 increased their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Scotiabank increased their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley increased their price target on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.77.

Amazon.com Stock Down 0.6 %

Shares of NASDAQ AMZN opened at $197.12 on Monday. Amazon.com, Inc. has a 52 week low of $142.81 and a 52 week high of $215.90. The business has a 50-day simple moving average of $193.00 and a two-hundred day simple moving average of $186.29. 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 company has a market cap of $2.07 trillion, a P/E ratio of 42.21, a P/E/G ratio of 1.33 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. Research analysts anticipate that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,011,423 shares of company stock worth $1,249,093,896. 10.80% of the stock is currently owned by insiders.

Amazon.com Profile

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.