Amazon.com, Inc. (NASDAQ:AMZN) is Pitcairn Co.’s 10th Largest Position

Pitcairn Co. lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,408 shares of the e-commerce giant’s stock after selling 2,888 shares during the quarter. Amazon.com accounts for about 1.9% of Pitcairn Co.’s holdings, making the stock its 10th biggest position. Pitcairn Co.’s holdings in Amazon.com were worth $31,682,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Rench Wealth Management Inc. lifted its stake in Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares in the last quarter. Momentous Wealth Management Inc. acquired a new position in shares of Amazon.com in the fourth quarter worth $749,000. Segall Bryant & Hamill LLC lifted its position in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after acquiring an additional 39,696 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Amazon.com by 173.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock valued at $759,434,000 after acquiring an additional 2,196,353 shares during the last quarter. Finally, Blankinship & Foster LLC increased its position in Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,620 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $10,933,860. This trade represents a 22.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock valued at $23,341,803 in the last quarter. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Amazon.com from $250.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Canaccord Genuity Group reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Amazon.com in a report on Friday. Truist Financial dropped their target price on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Loop Capital upped their price objective on shares of Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.55.

Amazon.com Trading Down 0.1 %

Shares of AMZN opened at $189.98 on Friday. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The stock has a 50-day moving average price of $190.48 and a 200 day moving average price of $207.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market capitalization of $2.02 trillion, a P/E ratio of 34.35, a P/E/G ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast 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.