Amazon.com, Inc. (NASDAQ:AMZN) is Pittenger & Anderson Inc.'s 9th Largest Position

Key Points

• Pittenger & Anderson Inc. reduced its stake in Amazon.com by 1.4%, selling 2,757 shares and now holding 201,445 shares valued at approximately $38.3 million.
• Several institutional investors recently increased their positions in Amazon, with 72.20% of the stock currently owned by such entities.
• Amazon's recent earnings report showed a 13.3% year-over-year revenue increase, beating analysts' expectations with earnings of $1.68 per share.

Pittenger & Anderson Inc. lessened its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 201,445 shares of the e-commerce giant's stock after selling 2,757 shares during the period. Amazon.com makes up about 1.4% of Pittenger & Anderson Inc.'s investment portfolio, making the stock its 9th biggest holding. Pittenger & Anderson Inc.'s holdings in Amazon.com were worth $38,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMZN. Brighton Jones LLC raised its stake in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after purchasing an additional 397,007 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after acquiring an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in Amazon.com by 2.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after buying an additional 54,987 shares during the last quarter. Highview Capital Management LLC DE increased its position in Amazon.com by 5.5% during the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock worth $6,357,000 after buying an additional 1,518 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC acquired a new position in Amazon.com during the fourth quarter worth approximately $2,153,000. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Westpark Capital reissued a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday, August 1st. HSBC boosted their price objective on Amazon.com from $240.00 to $256.00 in a report on Tuesday, July 22nd. BMO Capital Markets boosted their price objective on Amazon.com from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Robert W. Baird boosted their price objective on Amazon.com from $220.00 to $244.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Canaccord Genuity Group restated a "buy" rating and set a $280.00 price objective on shares of Amazon.com in a report on Friday, August 1st. One research 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.com, the company has an average rating of "Buy" and an average target price of $262.45.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 25,101,037 shares of company stock valued at $5,674,726,368. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Performance

Shares of AMZN stock traded up $0.17 during trading hours on Tuesday, hitting $221.47. 37,075,084 shares of the company were exchanged, compared to its average volume of 44,927,371. The firm has a fifty day simple moving average of $219.94 and a 200 day simple moving average of $208.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 1.50 and a beta of 1.31.

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 the consensus estimate of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same quarter last year, the business posted $1.26 EPS. Amazon.com's quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.