Pinnacle West Asset Management Inc. Purchases 110 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle West Asset Management Inc. raised its position in Amazon.com, Inc. (NASDAQ:AMZN) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,470 shares of the e-commerce giant’s stock after purchasing an additional 110 shares during the quarter. Amazon.com comprises approximately 2.6% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Pinnacle West Asset Management Inc.’s holdings in Amazon.com were worth $3,628,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMZN. International Assets Investment Management LLC increased its stake in shares of Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the period. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Swedbank AB acquired a new position in shares of Amazon.com during the first quarter valued at approximately $2,239,757,000. Capital World Investors increased its stake in shares of Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Down 1.0 %

Amazon.com stock opened at $205.74 on Thursday. The company has a market capitalization of $2.16 trillion, a P/E ratio of 44.06, a P/E/G ratio of 1.35 and a beta of 1.14. The firm’s fifty day simple moving average is $194.14 and its 200-day simple moving average is $186.66. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 1-year low of $142.81 and a 1-year high of $215.90.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on AMZN shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Oppenheimer lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen lifted their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.20.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at $106,797,072.91. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,026,683 shares of company stock valued at $1,252,148,795. 10.80% of the stock is currently owned by insiders.

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.