Pinnacle Financial Partners Inc Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Financial Partners Inc cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 891,176 shares of the e-commerce giant’s stock after selling 9,494 shares during the quarter. Amazon.com makes up approximately 3.3% of Pinnacle Financial Partners Inc’s holdings, making the stock its 5th biggest holding. Pinnacle Financial Partners Inc’s holdings in Amazon.com were worth $166,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hartline Investment Corp lifted its position in shares of Amazon.com by 3.5% in the 3rd quarter. Hartline Investment Corp now owns 163,240 shares of the e-commerce giant’s stock worth $30,417,000 after purchasing an additional 5,596 shares during the period. Mengis Capital Management Inc. raised its stake in Amazon.com by 1.4% in the third quarter. Mengis Capital Management Inc. now owns 39,000 shares of the e-commerce giant’s stock worth $7,267,000 after buying an additional 540 shares in the last quarter. Gibson Wealth Advisors LLC lifted its holdings in Amazon.com by 5.2% during the third quarter. Gibson Wealth Advisors LLC now owns 2,025 shares of the e-commerce giant’s stock worth $377,000 after buying an additional 100 shares during the period. Hamel Associates Inc. lifted its holdings in Amazon.com by 2.2% during the third quarter. Hamel Associates Inc. now owns 4,095 shares of the e-commerce giant’s stock worth $763,000 after buying an additional 90 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in Amazon.com by 3.5% during the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 18,319 shares of the e-commerce giant’s stock valued at $3,586,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AMZN shares. Telsey Advisory Group boosted their target price on shares of Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen boosted their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird raised their target price on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Evercore ISI lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Pivotal Research assumed coverage on Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price objective for the company. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Stock Performance

Amazon.com stock opened at $225.06 on Tuesday. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a fifty day moving average price of $205.83 and a two-hundred day moving average price of $191.46. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 48.19, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS 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 prior year, the company earned $0.85 EPS. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.