Amazon.com, Inc. (NASDAQ:AMZN) is Pennant Select LLC’s 2nd Largest Position

Pennant Select LLC reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 18.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,500 shares of the e-commerce giant’s stock after selling 21,500 shares during the quarter. Amazon.com makes up 12.5% of Pennant Select LLC’s investment portfolio, making the stock its 2nd largest position. Pennant Select LLC’s holdings in Amazon.com were worth $17,795,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp boosted its stake in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com during the 3rd quarter worth about $45,000. Christopher J. Hasenberg Inc boosted its stake in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com during the 3rd quarter worth about $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMZN shares. Moffett Nathanson raised their target price on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Maxim Group raised their target price on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. DA Davidson reissued a “buy” rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Piper Sandler raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Pivotal Research started coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Activity

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Amazon.com stock opened at $222.13 on Thursday. The company has a market cap of $2.34 trillion, a PE ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a fifty day moving average price of $215.07 and a two-hundred day moving average price of $194.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a 12 month low of $148.21 and a 12 month high of $233.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts expect that Amazon.com, Inc. will post 5.29 earnings per share 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.