Pitti Group Wealth Management LLC Acquires 570 Shares of Amazon.com, Inc. $AMZN

Pitti Group Wealth Management LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,462 shares of the e-commerce giant’s stock after buying an additional 570 shares during the period. Amazon.com makes up about 2.0% of Pitti Group Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Pitti Group Wealth Management LLC’s holdings in Amazon.com were worth $2,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Ridgecrest Wealth Partners LLC increased its position in shares of Amazon.com by 0.5% during the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock valued at $1,843,000 after acquiring an additional 45 shares in the last quarter. Bare Financial Services Inc lifted its position in Amazon.com by 5.4% in the 1st quarter. Bare Financial Services Inc now owns 930 shares of the e-commerce giant’s stock valued at $177,000 after acquiring an additional 48 shares in the last quarter. Heritage Oak Wealth Advisors LLC boosted its stake in Amazon.com by 1.2% during the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 3,927 shares of the e-commerce giant’s stock valued at $862,000 after purchasing an additional 48 shares during the last quarter. Cobblestone Asset Management LLC increased its holdings in shares of Amazon.com by 3.1% in the 2nd quarter. Cobblestone Asset Management LLC now owns 1,673 shares of the e-commerce giant’s stock worth $367,000 after purchasing an additional 50 shares in the last quarter. Finally, Seek First Inc. raised its stake in shares of Amazon.com by 0.5% in the second quarter. Seek First Inc. now owns 9,156 shares of the e-commerce giant’s stock worth $2,009,000 after purchasing an additional 50 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMZN shares. Barclays increased their price objective on Amazon.com from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wolfe Research lifted their price target on shares of Amazon.com from $265.00 to $270.00 in a research note on Tuesday, September 30th. Morgan Stanley reissued an “overweight” rating on shares of Amazon.com in a report on Wednesday, September 10th. Scotiabank raised their target price on shares of Amazon.com from $250.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $265.00 target price on shares of Amazon.com in a research report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $266.26.

Insider Activity

In related news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $221.58, for a total value of $4,403,237.76. Following the completion of the transaction, the chief executive officer owned 2,178,502 shares of the company’s stock, valued at approximately $482,712,473.16. This trade represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 17,750 shares of Amazon.com stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $222.74, for a total value of $3,953,635.00. Following the completion of the transaction, the chief financial officer owned 49,000 shares of the company’s stock, valued at approximately $10,914,260. This represents a 26.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,798,540 shares of company stock worth $4,273,477,287. 10.80% of the stock is owned by insiders.

Amazon.com Stock Down 1.3%

NASDAQ AMZN opened at $219.51 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. The company has a market capitalization of $2.34 trillion, a P/E ratio of 33.46, a P/E/G ratio of 1.47 and a beta of 1.28. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The stock has a 50 day moving average price of $226.55 and a 200-day moving average price of $211.24.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. Amazon.com’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share. Amazon.com has set its Q3 2025 guidance at EPS. As a group, equities analysts predict 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.