Amazon.com, Inc. $AMZN Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,716 shares of the e-commerce giant’s stock after selling 16,449 shares during the period. Amazon.com makes up 1.8% of Pitcairn Co.’s portfolio, making the stock its 11th biggest position. Pitcairn Co.’s holdings in Amazon.com were worth $27,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Old North State Trust LLC lifted its holdings in Amazon.com by 12.3% in the 2nd quarter. Old North State Trust LLC now owns 7,915 shares of the e-commerce giant’s stock valued at $1,736,000 after acquiring an additional 865 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of Amazon.com by 3.5% in the second quarter. Tyler Stone Wealth Management now owns 45,332 shares of the e-commerce giant’s stock valued at $9,945,000 after purchasing an additional 1,542 shares in the last quarter. Tactive Advisors LLC acquired a new stake in Amazon.com during the 2nd quarter worth about $5,219,000. Geneos Wealth Management Inc. increased its stake in Amazon.com by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 132,646 shares of the e-commerce giant’s stock valued at $29,101,000 after buying an additional 18,037 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in Amazon.com by 176.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 633,909 shares of the e-commerce giant’s stock valued at $139,073,000 after buying an additional 404,872 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Daiwa Capital Markets boosted their price target on shares of Amazon.com from $254.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Pivotal Research boosted their target price on Amazon.com from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Barclays reaffirmed an “overweight” rating and set a $300.00 price target (up from $275.00) on shares of Amazon.com in a research note on Friday, October 31st. Rothschild & Co Redburn reissued a “neutral” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Tuesday, November 18th. Finally, BNP Paribas began coverage on Amazon.com in a report on Monday, November 24th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $295.43.

Amazon.com Stock Down 1.8%

Shares of Amazon.com stock opened at $226.19 on Monday. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $229.35 and a two-hundred day moving average price of $225.01. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 31.95, a PEG ratio of 1.56 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.38. The company had revenue of $180.17 billion for the quarter, compared to analyst estimates of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. Equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $226.61, for a total transaction of $280,316.57. Following the completion of the transaction, the director owned 26,148 shares of the company’s stock, valued at $5,925,398.28. The trade was a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $216.94, for a total transaction of $4,311,031.68. Following the sale, the chief executive officer owned 2,208,310 shares of the company’s stock, valued at $479,070,771.40. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 82,234 shares of company stock worth $19,076,767. 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.