Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,751 shares of the e-commerce giant’s stock after selling 1,518 shares during the period. Amazon.com accounts for approximately 2.2% of Pitti Group Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Pitti Group Wealth Management LLC’s holdings in Amazon.com were worth $2,139,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMZN. Accordant Advisory Group Inc lifted its holdings in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after acquiring an additional 100 shares during the period. Icon Wealth Advisors LLC raised its holdings in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the period. Quattro Financial Advisors LLC boosted its stake in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Amazon.com during the fourth quarter worth about $51,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Amazon.com during the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several research reports. HSBC upped their price objective on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Benchmark raised their price target on Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Oppenheimer upped their price objective on Amazon.com from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group upped their price target on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, JMP Securities dropped their target price on shares of Amazon.com from $285.00 to $240.00 and set a “market outperform” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.73.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by corporate insiders.

Amazon.com Trading Down 1.0 %

Amazon.com stock opened at $172.51 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $199.65 and a two-hundred day moving average price of $207.97. The stock has a market cap of $1.83 trillion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, equities analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.