Pettee Investors Inc. Has $3.33 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pettee Investors Inc. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 13.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,515 shares of the e-commerce giant’s stock after selling 2,800 shares during the period. Amazon.com makes up 2.0% of Pettee Investors Inc.’s portfolio, making the stock its 11th biggest position. Pettee Investors Inc.’s holdings in Amazon.com were worth $3,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com during the 4th quarter worth approximately $25,000. Prudent Man Investment Management Inc. bought a new position in shares of Amazon.com in the fourth quarter worth $27,000. LSV Asset Management bought a new position in Amazon.com in the fourth quarter valued at about $35,000. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com during the first quarter valued at about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Amazon.com in the first quarter worth approximately $40,000. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the transaction, the insider owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,096,253 shares of company stock worth $5,673,745,409. 9.70% of the stock is currently owned by insiders.

Amazon.com Stock Up 2.9%

Shares of NASDAQ:AMZN opened at $230.98 on Friday. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a 50 day moving average of $221.06 and a 200-day moving average of $208.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 1.51 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMZN. HSBC upped their target price on Amazon.com from $240.00 to $256.00 in a research report on Tuesday, July 22nd. Robert W. Baird raised their price target on Amazon.com from $220.00 to $244.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Bank of America raised their price target on Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. BNP Paribas Exane upgraded Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price objective on the stock in a research report on Friday, June 27th. Finally, Oppenheimer lowered their price objective on Amazon.com from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $262.87.

Amazon.com Company 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.