Amazon.com, Inc. (NASDAQ:AMZN) Shares Bought by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 97.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,090 shares of the e-commerce giant's stock after buying an additional 13,833 shares during the quarter. Amazon.com makes up approximately 1.2% of Pinion Investment Advisors LLC's investment portfolio, making the stock its 16th largest position. Pinion Investment Advisors LLC's holdings in Amazon.com were worth $5,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Newport Capital Group LLC increased its stake in Amazon.com by 18.2% during the 1st quarter. Newport Capital Group LLC now owns 2,457 shares of the e-commerce giant's stock worth $467,000 after buying an additional 378 shares in the last quarter. Atlas Private Wealth Advisors boosted its stake in Amazon.com by 4.9% during the 1st quarter. Atlas Private Wealth Advisors now owns 22,348 shares of the e-commerce giant's stock worth $4,252,000 after purchasing an additional 1,052 shares during the last quarter. SFM LLC purchased a new stake in shares of Amazon.com during the first quarter worth $5,798,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Amazon.com by 35.6% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 422,426 shares of the e-commerce giant's stock valued at $80,371,000 after buying an additional 110,902 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Amazon.com by 1.3% in the first quarter. Sound Income Strategies LLC now owns 55,338 shares of the e-commerce giant's stock valued at $10,529,000 after buying an additional 704 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMZN shares. Oppenheimer increased their price objective on shares of Amazon.com from $215.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Truist Financial increased their price target on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley dropped their target price on Amazon.com from $280.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup reiterated a "buy" rating on shares of Amazon.com in a report on Monday, June 2nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average price target of $246.23.

Amazon.com Stock Performance

Shares of AMZN stock traded down $0.54 during trading hours on Wednesday, hitting $219.92. The stock had a trading volume of 30,814,701 shares, compared to its average volume of 42,036,639. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The firm has a market capitalization of $2.33 trillion, a PE ratio of 35.82, a PEG ratio of 1.65 and a beta of 1.33. The stock's 50 day moving average is $204.25 and its 200 day moving average is $208.75. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. Amazon.com's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In other Amazon.com news, CFO Brian T. Olsavsky sold 17,750 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the sale, the chief financial officer directly owned 49,000 shares of the company's stock, valued at approximately $9,876,930. This trade represents a 26.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,424,463 shares of company stock valued at $756,747,557. Insiders own 10.80% of the company's stock.

About Amazon.com

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.