Griffin Asset Management Inc. Reduces Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Griffin Asset Management Inc. lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,099 shares of the e-commerce giant’s stock after selling 772 shares during the quarter. Amazon.com accounts for 1.5% of Griffin Asset Management Inc.’s holdings, making the stock its 15th biggest position. Griffin Asset Management Inc.’s holdings in Amazon.com were worth $13,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMZN. PayPay Securities Corp boosted its position in 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 in the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com in the 3rd quarter worth $37,000. Christopher J. Hasenberg Inc raised its position in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. purchased a new position in Amazon.com during the first quarter valued at $69,000. Finally, Innealta Capital LLC purchased a new stake in shares of Amazon.com during the second quarter worth about $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $211.48 on Friday. The firm has a market cap of $2.22 trillion, a price-to-earnings ratio of 45.28, a PEG ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a 1 year low of $139.52 and a 1 year high of $215.90. The stock’s 50-day moving average is $189.87 and its two-hundred day moving average is $185.36.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 22.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,053,349 shares of company stock valued at $1,256,503,289. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMZN shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Royal Bank of Canada raised their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley increased their price target on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Monness Crespi & Hardt boosted their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Bank of America increased their target price on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.45.

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.