Pinnacle Financial Partners Inc Has $137.94 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Financial Partners Inc reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 907,846 shares of the e-commerce giant’s stock after selling 35,184 shares during the quarter. Amazon.com comprises approximately 3.3% of Pinnacle Financial Partners Inc’s holdings, making the stock its 5th biggest position. Pinnacle Financial Partners Inc’s holdings in Amazon.com were worth $137,938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Amazon.com by 1,869.1% in the 2nd quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after purchasing an additional 310,134,486 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC boosted its stake in Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Amazon.com by 120,235.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock valued at $9,784,345,000 after purchasing an additional 116,383,502 shares during the period. Finally, Norges Bank bought a new stake in Amazon.com in the 4th quarter valued at $8,263,591,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

Shares of AMZN opened at $183.62 on Tuesday. Amazon.com, Inc. has a 1 year low of $101.15 and a 1 year high of $189.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. The company has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The business has a 50-day moving average of $176.60 and a 200-day moving average of $155.79.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The business had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. During the same quarter last year, the firm posted $0.21 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 4.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the sale, the chief executive officer now owns 131,600 shares of the company’s stock, valued at $24,214,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, insider Jeffrey P. Bezos sold 2,009,208 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $166.79, for a total value of $335,115,802.32. Following the completion of the sale, the insider now owns 938,251,817 shares of the company’s stock, valued at $156,491,020,557.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at approximately $24,214,400. The disclosure for this sale can be found here. Insiders sold 32,214,010 shares of company stock valued at $5,505,874,846 over the last 90 days. Company insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMZN. Barclays boosted their price target on Amazon.com from $190.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Wolfe Research upped their target price on Amazon.com from $195.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. upped their target price on Amazon.com from $190.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Mizuho upped their target price on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, TD Cowen upped their target price on Amazon.com from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-three have assigned 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 “Buy” and an average target price of $201.43.

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.