Grassi Investment Management Acquires 2,140 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Grassi Investment Management boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,525 shares of the e-commerce giant’s stock after acquiring an additional 2,140 shares during the quarter. Amazon.com makes up approximately 1.2% of Grassi Investment Management’s holdings, making the stock its 21st biggest holding. Grassi Investment Management’s holdings in Amazon.com were worth $13,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PayPay Securities Corp increased its holdings in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in Amazon.com in the 3rd quarter valued at $37,000. Christopher J. Hasenberg Inc increased its stake in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com during the first quarter worth $69,000. Finally, Innealta Capital LLC acquired a new position in shares of Amazon.com during the second quarter valued at $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,766 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the transaction, the director now owns 94,630 shares of the company’s stock, valued at $19,858,105.50. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,026,683 shares of company stock worth $1,252,148,795 over the last quarter. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on AMZN. Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective for the company. in a research report on Friday, August 2nd. Needham & Company LLC boosted their price target on shares of Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays increased their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group upped their target price on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, JMP Securities raised their price target on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Price Performance

NASDAQ:AMZN opened at $207.86 on Wednesday. Amazon.com, Inc. has a 52-week low of $142.81 and a 52-week high of $215.90. The company has a market cap of $2.19 trillion, a P/E ratio of 44.51, a P/E/G ratio of 1.32 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. The stock’s 50-day simple moving average is $193.75 and its 200 day simple moving average is $186.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Amazon.com Company 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.