Amazon.com, Inc. (NASDAQ:AMZN) is Pinnacle Financial Partners Inc’s 5th Largest Position

Pinnacle Financial Partners Inc reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 885,071 shares of the e-commerce giant’s stock after selling 73 shares during the period. Amazon.com comprises 3.7% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 5th largest holding. Pinnacle Financial Partners Inc’s holdings in Amazon.com were worth $184,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth about $25,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com during the fourth quarter worth about $27,000. LSV Asset Management purchased a new stake in shares of Amazon.com during the fourth quarter worth about $35,000. Inlight Wealth Management LLC purchased a new stake in shares of Amazon.com during the first quarter worth about $40,000. Finally, 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 purchasing an additional 80 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMZN has been the subject of a number of research reports. Needham & Company LLC upped their target price on shares of Amazon.com from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. UBS Group restated a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 6th. Wells Fargo & Company upped their target price on shares of Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Bank of America upped their target price on shares of Amazon.com from $248.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Tigress Financial upped their target price on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $254.33.

Amazon.com Trading Down 0.3%

Shares of NASDAQ:AMZN opened at $231.44 on Monday. The business’s 50-day moving average is $215.66 and its 200 day moving average is $208.72. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a market capitalization of $2.46 trillion, a P/E ratio of 37.69, a P/E/G ratio of 1.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

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

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of Amazon.com stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 25,102,037 shares of company stock valued at $5,674,871,223. 10.80% of the stock is 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.