Amazon.com, Inc. $AMZN Shares Sold by Pettee Investors Inc.

Pettee Investors Inc. trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,515 shares of the e-commerce giant's stock after selling 2,800 shares during the period. Amazon.com makes up approximately 2.0% of Pettee Investors Inc.'s holdings, making the stock its 11th biggest holding. Pettee Investors Inc.'s holdings in Amazon.com were worth $3,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Kooman & Associates boosted its position in shares of Amazon.com by 6.4% during the first quarter. Kooman & Associates now owns 4,078 shares of the e-commerce giant's stock valued at $776,000 after buying an additional 246 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Amazon.com by 6.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 526,608 shares of the e-commerce giant's stock worth $100,192,000 after acquiring an additional 30,977 shares during the last quarter. Frederick Financial Consultants LLC boosted its holdings in Amazon.com by 21.6% during the 1st quarter. Frederick Financial Consultants LLC now owns 4,429 shares of the e-commerce giant's stock valued at $843,000 after acquiring an additional 788 shares during the period. Archvest Wealth Advisors Inc. grew its position in Amazon.com by 8.5% in the 1st quarter. Archvest Wealth Advisors Inc. now owns 9,771 shares of the e-commerce giant's stock valued at $1,859,000 after acquiring an additional 765 shares during the last quarter. Finally, Woodward Diversified Capital LLC grew its position in Amazon.com by 3.5% in the 1st quarter. Woodward Diversified Capital LLC now owns 17,009 shares of the e-commerce giant's stock valued at $3,236,000 after acquiring an additional 581 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Down 0.3%

Amazon.com stock traded down $0.59 during mid-day trading on Monday, hitting $230.44. The company had a trading volume of 10,226,043 shares, compared to its average volume of 44,721,230. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 1 year low of $161.38 and a 1 year high of $242.52. The business has a fifty day moving average of $221.41 and a 200 day moving average of $208.26. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 35.10, a PEG ratio of 1.56 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion during 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%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMZN. Roth Capital set a $250.00 price target on Amazon.com and gave the company a "buy" rating in a report on Tuesday, July 8th. JMP Securities reiterated a "market outperform" rating and issued a $285.00 target price on shares of Amazon.com in a report on Friday, August 1st. Piper Sandler raised their price target on Amazon.com from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wedbush upped their price objective on shares of Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, BNP Paribas upgraded shares of Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. One analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $262.87.

Insiders Place Their Bets

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $217.00, for a total value of $542,500.00. Following the transaction, the chief executive officer owned 512,050 shares in the company, valued at $111,114,850. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,096,253 shares of company stock valued at $5,673,745,409. 10.80% of the stock is owned by corporate insiders.

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.