Granite FO LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Granite FO LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,250 shares of the e-commerce giant’s stock, valued at approximately $3,527,000. Amazon.com comprises approximately 2.3% of Granite FO LLC’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. PayPay Securities Corp boosted its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. purchased a new position in Amazon.com during the first quarter worth $69,000. Innealta Capital LLC bought a new position in Amazon.com during the second quarter valued at $77,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Amazon.com by 84.7% in the second quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after acquiring an additional 199 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $187.83 on Monday. The company has a 50 day moving average price of $183.50 and a 200 day moving average price of $183.54. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 52.61, a PEG ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Sell-side analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMZN. Wolfe Research started coverage on shares of Amazon.com in a research note on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price target for the company. Pivotal Research began coverage on Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 target price on the stock. Truist Financial raised their price target on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group cut their price objective on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Two investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is currently owned by insiders.

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.