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

Pitti Group Wealth Management LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,892 shares of the e-commerce giant’s stock after purchasing an additional 141 shares during the period. Amazon.com comprises about 1.9% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Pitti Group Wealth Management LLC’s holdings in Amazon.com were worth $1,882,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new position in Amazon.com in the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter valued at $27,000. LSV Asset Management acquired a new position in shares of Amazon.com during the fourth quarter valued at $35,000. Perritt Capital Management Inc grew its position in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC increased its holdings in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 45 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $212.52 on Friday. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The firm has a 50-day moving average of $197.91 and a two-hundred day moving average of $209.34. The firm has a market capitalization of $2.26 trillion, a PE ratio of 34.61, a P/E/G ratio of 1.61 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citizens Jmp reduced their target price on shares of Amazon.com from $285.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. JMP Securities reaffirmed a “market outperform” rating on shares of Amazon.com in a report on Tuesday, May 6th. Truist Financial reduced their price objective on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wall Street Zen cut Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company cut their target price on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

Insider Buying and Selling at Amazon.com

In related news, Director Keith Brian Alexander sold 1,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the sale, the director now directly owns 5,465 shares of the company’s stock, valued at approximately $1,151,366.20. This represents a 15.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock valued at $20,531,075 in the last three months. 9.70% of the stock is currently owned by company insiders.

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.