Granite FO LLC Sells 1,565 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Granite FO LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,224 shares of the e-commerce giant’s stock after selling 1,565 shares during the quarter. Amazon.com comprises 2.0% of Granite FO LLC’s portfolio, making the stock its 11th largest holding. Granite FO LLC’s holdings in Amazon.com were worth $3,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AMZN. Proficio Capital Partners LLC grew its holdings in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares in the last quarter. Parnassus Investments LLC lifted its stake in Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares during the last quarter. State Street Corp grew its position in Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in shares of Amazon.com by 23,742.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant’s stock valued at $1,119,463,000 after acquiring an additional 5,081,217 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,620 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $223.14, for a total value of $3,262,306.80. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $10,933,860. This trade represents a 22.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,798 shares of company stock valued at $23,341,803. Insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 4.2 %

AMZN opened at $171.00 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm’s fifty day moving average is $212.18 and its 200 day moving average is $209.06. The stock has a market cap of $1.81 trillion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on AMZN shares. Piper Sandler restated an “overweight” rating and set a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Oppenheimer upped their price target on Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Mizuho boosted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their target price on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.53.

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.