Pinney & Scofield Inc. Buys New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pinney & Scofield Inc. bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,013 shares of the e-commerce giant's stock, valued at approximately $442,000. Amazon.com makes up approximately 0.3% of Pinney & Scofield Inc.'s portfolio, making the stock its 29th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. FMR LLC lifted its position in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after buying an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock valued at $40,107,544,000 after buying an additional 4,087,933 shares during the last quarter. Finally, Norges Bank acquired a new stake in Amazon.com during the 4th quarter worth $27,266,582,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Price Performance

AMZN stock traded up $5.66 during trading on Friday, reaching $213.57. 39,746,466 shares of the company were exchanged, compared to its average volume of 42,160,042. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock's 50 day moving average price is $191.84 and its 200 day moving average price is $208.82. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a market cap of $2.27 trillion, a P/E ratio of 38.62, a PEG ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.67, for a total value of $476,675.00. Following the sale, the chief executive officer now directly owns 506,974 shares in the company, valued at $96,664,732.58. The trade was a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,037 shares of company stock valued at $20,531,075 in the last ninety days. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Truist Financial reduced their target price on Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. upped their target price on Amazon.com from $225.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday. Jefferies Financial Group dropped their price target on Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Westpark Capital reaffirmed a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $244.89.

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.