Amazon.com, Inc. (NASDAQ:AMZN) is Pinebridge Investments L.P.’s 4th Largest Position

Pinebridge Investments L.P. reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.8% in the third quarter, Holdings Channel reports. The firm owned 70,352 shares of the e-commerce giant’s stock after selling 3,536 shares during the period. Amazon.com accounts for approximately 2.8% of Pinebridge Investments L.P.’s holdings, making the stock its 4th largest position. Pinebridge Investments L.P.’s holdings in Amazon.com were worth $231,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. lifted its stake in Amazon.com by 5.6% in the third quarter. Vantage Financial Partners Ltd. Inc. now owns 756 shares of the e-commerce giant’s stock worth $2,483,000 after acquiring an additional 40 shares during the period. Summit Asset Management LLC lifted its stake in Amazon.com by 19.4% in the third quarter. Summit Asset Management LLC now owns 929 shares of the e-commerce giant’s stock worth $3,052,000 after acquiring an additional 151 shares during the period. Fairview Capital Investment Management LLC lifted its stake in Amazon.com by 35.3% in the second quarter. Fairview Capital Investment Management LLC now owns 2,501 shares of the e-commerce giant’s stock worth $8,603,000 after acquiring an additional 652 shares during the period. Tsfg LLC lifted its stake in Amazon.com by 2.6% in the third quarter. Tsfg LLC now owns 2,721 shares of the e-commerce giant’s stock worth $8,937,000 after acquiring an additional 68 shares during the period. Finally, Monterey Private Wealth Inc. lifted its stake in Amazon.com by 12.0% in the second quarter. Monterey Private Wealth Inc. now owns 428 shares of the e-commerce giant’s stock worth $1,472,000 after acquiring an additional 46 shares during the period. 56.96% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Andrew R. Jassy sold 492 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $3,676.00, for a total transaction of $1,808,592.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 34 shares of the firm’s stock in a transaction that occurred on Thursday, December 2nd. The stock was sold at an average price of $3,460.00, for a total transaction of $117,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,314 shares of company stock worth $292,824,570 in the last ninety days. Corporate insiders own 14.00% of the company’s stock.

A number of research firms recently weighed in on AMZN. Mizuho lowered their price objective on shares of Amazon.com from $4,100.00 to $3,950.00 and set a “buy” rating for the company in a research note on Friday, October 29th. Piper Sandler lowered their price objective on shares of Amazon.com from $3,904.00 to $3,875.00 and set an “overweight” rating for the company in a research note on Friday, October 29th. Telsey Advisory Group lowered their price objective on shares of Amazon.com from $4,000.00 to $3,850.00 and set an “outperform” rating for the company in a research note on Friday, October 29th. Wedbush decreased their price target on shares of Amazon.com from $4,300.00 to $3,950.00 and set an “outperform” rating for the company in a research report on Friday, October 29th. Finally, Truist increased their price target on shares of Amazon.com from $3,800.00 to $4,000.00 and gave the company a “buy” rating in a research report on Friday, October 29th. Forty equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $4,201.88.

Shares of NASDAQ:AMZN opened at $3,242.76 on Friday. Amazon.com, Inc. has a twelve month low of $2,881.00 and a twelve month high of $3,773.08. The company’s 50 day moving average is $3,438.21 and its 200 day moving average is $3,427.83. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.64 trillion, a PE ratio of 63.43, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Wednesday, October 27th. The e-commerce giant reported $6.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $9.10 by ($2.98). Amazon.com had a return on equity of 24.31% and a net margin of 5.73%. The business had revenue of $110.81 billion during the quarter, compared to analyst estimates of $111.66 billion. During the same quarter last year, the company posted $12.37 EPS. Amazon.com’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts predict that Amazon.com, Inc. will post 40.79 earnings per share for the current fiscal year.

About Amazon.com

Amazon.com, Inc engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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