Amazon.com, Inc. (NASDAQ:AMZN) is Granite Investment Partners LLC’s 3rd Largest Position

Granite Investment Partners LLC reduced its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 216,707 shares of the e-commerce giant’s stock after selling 3,280 shares during the period. Amazon.com makes up about 2.1% of Granite Investment Partners LLC’s holdings, making the stock its 3rd largest holding. Granite Investment Partners LLC’s holdings in Amazon.com were worth $47,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sassicaia Capital Advisers LLC acquired a new stake in shares of Amazon.com during the 3rd quarter worth approximately $279,000. Howard Capital Management Group LLC boosted its holdings in Amazon.com by 0.3% during the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant’s stock worth $66,434,000 after buying an additional 897 shares in the last quarter. Principal Financial Group Inc. grew its position in Amazon.com by 5.1% during the third quarter. Principal Financial Group Inc. now owns 20,166,314 shares of the e-commerce giant’s stock valued at $3,757,589,000 after buying an additional 984,570 shares during the period. Arete Wealth Advisors LLC purchased a new position in Amazon.com in the third quarter valued at $14,648,000. Finally, Point72 Europe London LLP acquired a new position in shares of Amazon.com in the third quarter worth about $57,259,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,298 shares of company stock valued at $23,818,478 in the last 90 days. Company insiders own 9.70% of the company’s stock.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $193.06 on Friday. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business has a 50-day moving average of $188.50 and a 200 day moving average of $207.79. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

AMZN has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $212.00 price target (down previously from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. StockNews.com lowered Amazon.com from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Wedbush reissued an “outperform” rating and issued a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, UBS Group reiterated a “buy” rating on shares of Amazon.com in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $244.09.

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.