Amazon.com, Inc. (NASDAQ:AMZN) Position Cut by Pacific Global Investment Management Co.

Pacific Global Investment Management Co. trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 87.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,962 shares of the e-commerce giant's stock after selling 81,935 shares during the period. Amazon.com comprises 3.4% of Pacific Global Investment Management Co.'s investment portfolio, making the stock its 5th largest position. Pacific Global Investment Management Co.'s holdings in Amazon.com were worth $2,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cable Hill Partners LLC increased its stake in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock worth $2,104,000 after acquiring an additional 44 shares in the last quarter. Quattro Financial Advisors LLC increased its stake in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management increased its stake in shares of Amazon.com by 2.4% during the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock valued at $433,000 after purchasing an additional 47 shares in the last quarter. MBM Wealth Consultants LLC lifted its holdings in shares of Amazon.com by 0.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock valued at $1,889,000 after purchasing an additional 48 shares during the last quarter. Finally, Semus Wealth Partners LLC boosted its position in shares of Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant's stock worth $3,339,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have issued reports on AMZN shares. Piper Sandler reiterated an "overweight" rating and set a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Oppenheimer lifted their price target on Amazon.com from $230.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Amazon.com in a report on Thursday, February 13th. Finally, Loop Capital increased their price target on shares of Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $260.53.

Amazon.com Price Performance

NASDAQ:AMZN traded down $17.60 on Thursday, reaching $178.41. 95,296,225 shares of the company's stock traded hands, compared to its average volume of 40,316,435. The stock has a 50-day simple moving average of $214.60 and a 200-day simple moving average of $209.22. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The firm has a market cap of $1.89 trillion, a PE ratio of 32.26, a P/E/G ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 2,118,886 shares of the company's stock, valued at approximately $467,532,195.90. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is 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.