Pinnacle Financial Partners Inc. Has $21.36 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Pinnacle Financial Partners Inc. increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,282 shares of the e-commerce giant’s stock after acquiring an additional 36 shares during the quarter. Amazon.com comprises about 1.6% of Pinnacle Financial Partners Inc.’s holdings, making the stock its 8th largest position. Pinnacle Financial Partners Inc.’s holdings in Amazon.com were worth $21,364,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Enterprise Trust & Investment Co acquired a new position in Amazon.com in the second quarter valued at $27,000. Signet Investment Advisory Group Inc. bought a new stake in Amazon.com during the fourth quarter valued at $33,000. Litman Gregory Asset Management LLC bought a new stake in Amazon.com during the second quarter valued at $53,000. Financial Advantage Inc. acquired a new stake in Amazon.com during the 4th quarter worth about $45,000. Finally, Clear Investment Research LLC grew its holdings in Amazon.com by 27.6% during the 2nd quarter. Clear Investment Research LLC now owns 37 shares of the e-commerce giant’s stock worth $70,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 55.92% of the company’s stock.

In related news, VP Shelley Reynolds sold 379 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1,775.43, for a total transaction of $672,887.97. Following the transaction, the vice president now directly owns 6,307 shares in the company, valued at $11,197,637.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 7,308 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $2,000.00, for a total transaction of $14,616,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,614 shares of the company’s stock, valued at $185,228,000. The disclosure for this sale can be found here. Insiders sold a total of 27,714 shares of company stock valued at $51,174,807 over the last three months. 16.10% of the stock is currently owned by insiders.



AMZN has been the subject of several research analyst reports. Credit Suisse Group reissued an “outperform” rating and issued a $2,250.00 price objective (up from $2,200.00) on shares of Amazon.com in a research report on Wednesday, July 24th. Royal Bank of Canada restated an “outperform” rating and set a $2,600.00 target price (up previously from $2,250.00) on shares of Amazon.com in a research report on Tuesday, September 3rd. Cowen set a $2,500.00 target price on Amazon.com and gave the stock a “buy” rating in a research note on Monday, July 15th. Wedbush reiterated a “buy” rating and issued a $2,350.00 target price on shares of Amazon.com in a report on Monday, July 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $2,300.00 target price (up from $2,100.00) on shares of Amazon.com in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and forty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $2,259.84.

Shares of Amazon.com stock traded up $7.03 on Wednesday, hitting $1,827.58. The company had a trading volume of 732,183 shares, compared to its average volume of 2,993,507. Amazon.com, Inc. has a 1 year low of $1,307.00 and a 1 year high of $2,035.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 1.10. The stock has a 50 day moving average of $1,823.48 and a 200-day moving average of $1,835.08. The stock has a market capitalization of $905.89 billion, a price-to-earnings ratio of 90.74, a P/E/G ratio of 2.37 and a beta of 1.57.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 25th. The e-commerce giant reported $5.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.29 by ($0.07). Amazon.com had a net margin of 4.80% and a return on equity of 26.27%. The company had revenue of $63.40 billion for the quarter, compared to analysts’ expectations of $62.59 billion. During the same period in the previous year, the firm earned $5.07 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 24.01 earnings per share for the current year.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

Featured Story: What is the cash asset ratio?

Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. (NASDAQ:AMZN).

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

Receive News & Ratings for Amazon.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com and related companies with MarketBeat.com's FREE daily email newsletter.