Pennington Partners & CO. LLC Invests $3.47 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Pennington Partners & CO. LLC purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,803 shares of the e-commerce giant’s stock, valued at approximately $3,467,000. Amazon.com accounts for about 1.7% of Pennington Partners & CO. LLC’s investment portfolio, making the stock its 6th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. South Plains Financial Inc. bought a new position in Amazon.com in the fourth quarter valued at $3,171,000. Blue Rock Wealth Management LLC bought a new position in Amazon.com in the fourth quarter valued at $2,389,000. Cypress Advisory Group LLC bought a new position in Amazon.com in the fourth quarter valued at $1,518,000. ArborFi Advisors LLC bought a new position in Amazon.com in the fourth quarter valued at $260,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Amazon.com in the fourth quarter valued at $338,068,000. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on AMZN shares. Maxim Group increased their target price on Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Wedbush reissued an “outperform” rating and issued a $235.00 target price (up previously from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Evercore ISI reduced their target price on Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Canaccord Genuity Group reissued a “buy” rating on shares of Amazon.com in a research note on Thursday, February 13th. Finally, Scotiabank cut their price target on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.09.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at approximately $467,532,195.90. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the sale, the chief executive officer now owns 509,474 shares in the company, valued at approximately $95,776,017.26. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,081 shares of company stock valued at $17,421,044. Company insiders own 9.70% of the company’s stock.

Amazon.com Trading Down 1.4%

Shares of AMZN stock opened at $201.12 on Thursday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a fifty day moving average price of $189.74 and a 200-day moving average price of $208.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company 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.