Pitti Group Wealth Management LLC Sells 1,518 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Pitti Group Wealth Management LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,751 shares of the e-commerce giant's stock after selling 1,518 shares during the period. Amazon.com accounts for 2.2% of Pitti Group Wealth Management LLC's investment portfolio, making the stock its 12th biggest holding. Pitti Group Wealth Management LLC's holdings in Amazon.com were worth $2,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Rench Wealth Management Inc. increased its holdings in Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant's stock worth $9,392,000 after buying an additional 3,703 shares during the last quarter. Blankinship & Foster LLC grew its position in Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant's stock worth $1,291,000 after acquiring an additional 4,740 shares in the last quarter. One Wealth Capital Management LLC acquired a new position in shares of Amazon.com during the 4th quarter worth $4,270,000. Floyd Financial Group LLC bought a new position in shares of Amazon.com during the 4th quarter valued at $4,494,000. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Amazon.com by 0.4% during the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant's stock valued at $41,972,000 after purchasing an additional 982 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the 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 sale, the chief executive officer now directly owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares of the company's stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,798 shares of company stock worth $23,341,803. Insiders own 10.80% of the company's stock.

Amazon.com Trading Down 3.1 %

Shares of NASDAQ AMZN traded down $5.29 during midday trading on Monday, hitting $167.32. The stock had a trading volume of 47,976,369 shares, compared to its average volume of 41,753,985. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm has a market cap of $1.77 trillion, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company's 50-day simple moving average is $197.21 and its 200 day simple moving average is $208.09.

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

Wall Street Analyst Weigh In

Several research firms have commented on AMZN. JPMorgan Chase & Co. lowered their target price on shares of Amazon.com from $270.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Benchmark boosted their target price on Amazon.com from $215.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Loop Capital lifted their price target on shares of Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Raymond James reiterated an "outperform" rating and issued a $195.00 target price (down from $275.00) on shares of Amazon.com in a research note on Monday. Finally, Citigroup decreased their price target on shares of Amazon.com from $273.00 to $225.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $249.90.

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.