Amazon.com, Inc. (NASDAQ:AMZN) Holdings Lowered by Pinnacle Family Advisors LLC

Pinnacle Family Advisors LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,805 shares of the e-commerce giant’s stock after selling 353 shares during the period. Amazon.com accounts for approximately 1.7% of Pinnacle Family Advisors LLC’s holdings, 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Semus Wealth Partners LLC raised its holdings in Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after buying an additional 49 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Amazon.com by 1.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after acquiring an additional 51 shares in the last quarter. O Connor Financial Group LLC increased its holdings in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after acquiring an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC raised its stake in shares of Amazon.com by 0.7% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after acquiring an additional 55 shares in the last quarter. Finally, Cedar Point Capital Partners LLC lifted its holdings in Amazon.com by 4.4% in the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMZN has been the topic of a number of recent analyst reports. Wedbush lifted their price target on shares of Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Benchmark raised their target price on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $250.00 target price on shares of Amazon.com in a research report on Tuesday, December 10th. Scotiabank raised their price target on Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Amazon.com in a research note on Friday. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Activity

In other news, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the sale, the insider now directly owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

NASDAQ AMZN opened at $218.94 on Friday. Amazon.com, Inc. has a 1-year low of $149.91 and a 1-year high of $233.00. The company has a 50 day moving average of $216.20 and a 200-day moving average of $195.41. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating 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 firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the firm posted $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

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.