Pinnacle Family Advisors LLC Has $3.32 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Family Advisors LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,805 shares of the e-commerce giant’s stock after selling 353 shares during the period. Amazon.com makes up about 1.7% of Pinnacle Family Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Pinnacle Family Advisors LLC’s holdings in Amazon.com were worth $3,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Icon Wealth Advisors LLC boosted its position in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp increased its holdings in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the third quarter worth about $45,000. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com during the 3rd quarter worth about $56,000. 72.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMZN shares. Moffett Nathanson increased their price target on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Bank of America increased their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating and issued a $197.00 price target on shares of Amazon.com in a report on Wednesday, November 20th. Wolfe Research raised their price objective on Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Telsey Advisory Group boosted their target price on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $218.94 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $216.20 and its two-hundred day moving average price is $195.41. The company has a market cap of $2.30 trillion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $149.91 and a twelve month high of $233.00.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Amazon.com, Inc. will post 5.29 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.