Pettinga Financial Advisors LLC Lowers Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Pettinga Financial Advisors LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,350 shares of the e-commerce giant’s stock after selling 140 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Amazon.com were worth $1,018,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMZN. Norges Bank purchased a new stake in shares of Amazon.com in the 4th quarter worth $27,266,582,000. GAMMA Investing LLC lifted its stake in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares during the last quarter. Capital World Investors lifted its stake in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Amazon.com by 26.5% during the 4th quarter. Capital International Investors now owns 57,268,523 shares of the e-commerce giant’s stock worth $12,564,961,000 after purchasing an additional 12,000,745 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of Amazon.com stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 25,096,253 shares of company stock worth $5,673,745,409 in the last quarter. Company insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMZN shares. HSBC upped their price objective on Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Rosenblatt Securities upped their price objective on Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Tigress Financial upped their price objective on Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Amazon.com in a research note on Friday, August 1st. Finally, Truist Financial upped their price objective on Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has an average rating of “Buy” and an average target price of $262.45.

Amazon.com Stock Performance

NASDAQ AMZN opened at $224.66 on Thursday. The company has a market cap of $2.40 trillion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. The stock’s 50 day simple moving average is $220.60 and its 200-day simple moving average is $208.72. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter last year, the business posted $1.26 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.