Pineridge Advisors LLC Sells 2,464 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Pineridge Advisors LLC decreased its stake in Amazon.com by 57.4%, selling 2,464 shares and leaving it with 1,827 shares valued at $348,000.
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon, resulting in a transaction valued at approximately $960.67 million, though he still holds over 897 million shares in the company.
• Recent analyst reports have mostly upgraded Amazon’s stock, with 47 analysts giving it a buy rating and increased price targets ranging from $245 to $270.

Pineridge Advisors LLC trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 57.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,827 shares of the e-commerce giant's stock after selling 2,464 shares during the period. Pineridge Advisors LLC's holdings in Amazon.com were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMZN. Castlekeep Investment Advisors LLC bought a new stake in shares of Amazon.com in the 4th quarter valued at approximately $25,000. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter worth approximately $27,000. LSV Asset Management bought a new stake in shares of Amazon.com during the 4th quarter worth approximately $35,000. Cooksen Wealth LLC bought a new stake in shares of Amazon.com during the 1st quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Amazon.com during the 1st quarter worth approximately $40,000. 72.20% of the stock is owned by institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 25,102,037 shares of company stock worth $5,674,937,048 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMZN. Stifel Nicolaus raised their price target on Amazon.com from $245.00 to $262.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Citigroup raised their price target on Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reissued a "buy" rating and set a $265.00 price target on shares of Amazon.com in a research note on Friday, August 1st. Wells Fargo & Company raised their price target on Amazon.com from $238.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, BNP Paribas raised Amazon.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $262.45.

Amazon.com Stock Up 1.0%

Shares of AMZN opened at $213.75 on Wednesday. Amazon.com, Inc. has a 52 week low of $158.54 and a 52 week high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.28 trillion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.45 and a beta of 1.31. The stock's 50-day moving average price is $218.57 and its 200-day moving average price is $208.96.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com'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 earnings per share. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 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.

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