Grassi Investment Management Sells 2,650 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Grassi Investment Management reduced its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,875 shares of the e-commerce giant’s stock after selling 2,650 shares during the period. Amazon.com accounts for about 1.3% of Grassi Investment Management’s investment portfolio, making the stock its 17th biggest position. Grassi Investment Management’s holdings in Amazon.com were worth $15,330,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Icon Wealth Advisors LLC lifted its position in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after buying an additional 25,581 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter worth about $45,000. Values First Advisors Inc. purchased a new stake in Amazon.com during the third quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc raised its position in Amazon.com by 51.3% during the third quarter. Christopher J. Hasenberg Inc now owns 454 shares of the e-commerce giant’s stock valued at $83,000 after purchasing an additional 154 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMZN shares. DA Davidson upped their price objective on Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup decreased their price target on Amazon.com from $275.00 to $273.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Wedbush reissued an “outperform” rating and set a $280.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Scotiabank raised their price objective on Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Finally, Piper Sandler restated an “overweight” rating and set a $265.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Stock Performance

Shares of AMZN stock opened at $230.37 on Friday. The stock has a market cap of $2.42 trillion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $227.98 and a 200-day simple moving average of $201.78.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. On average, equities analysts expect that Amazon.com, Inc. will post 6.24 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,348 shares of company stock worth $5,036,214. Insiders own 10.80% of the company’s stock.

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.