Pasadena Private Wealth LLC Has $995,000 Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 16th, 2023

Pasadena Private Wealth LLC decreased its position in Amazon.com, Inc. (NASDAQ:AMZN – Get Rating) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,807 shares of the e-commerce giant’s stock after selling 973 shares during the period. Amazon.com comprises approximately 0.4% of Pasadena Private Wealth LLC’s holdings, making the stock its 28th largest holding. Pasadena Private Wealth LLC’s holdings in Amazon.com were worth $995,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Amazon.com by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock valued at $79,275,249,000 after purchasing an additional 12,456,995 shares during the period. State Street Corp grew its stake in shares of Amazon.com by 1.0% in the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares during the period. FMR LLC grew its stake in shares of Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Amazon.com by 1,867.0% in the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after purchasing an additional 90,167,792 shares during the period. Institutional investors and hedge funds own 57.64% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Amazon.com from $155.00 to $145.00 in a research note on Friday, February 3rd. Wolfe Research increased their price target on Amazon.com from $115.00 to $130.00 in a research report on Friday, February 3rd. Susquehanna increased their price target on Amazon.com from $140.00 to $150.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. JPMorgan Chase & Co. increased their price objective on Amazon.com from $130.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Cowen increased their price target on Amazon.com from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, December 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and forty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.87.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $102.90, for a total transaction of $411,600.00. Following the completion of the transaction, the chief executive officer now directly owns 529,435 shares in the company, valued at $54,478,861.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 7,456 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $94.90, for a total transaction of $707,574.40. Following the sale, the chief executive officer now owns 564,298 shares of the company’s stock, valued at $53,551,880.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $102.90, for a total transaction of $411,600.00. Following the sale, the chief executive officer now directly owns 529,435 shares in the company, valued at approximately $54,478,861.50. The disclosure for this sale can be found here. Insiders sold a total of 71,394 shares of company stock worth $6,994,626 over the last three months. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Stock Up 1.4 %

NASDAQ AMZN opened at $96.20 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83. The company has a 50 day moving average of $96.42 and a 200-day moving average of $101.95. The company has a market cap of $985.79 billion, a price-to-earnings ratio of -356.30, a PEG ratio of 3.74 and a beta of 1.25.

Amazon.com (NASDAQ:AMZN – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.12). Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The firm had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

About Amazon.com

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.