Grove Bank & Trust Sells 1,063 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Grove Bank & Trust cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,125 shares of the e-commerce giant’s stock after selling 1,063 shares during the period. Amazon.com comprises approximately 2.2% of Grove Bank & Trust’s holdings, making the stock its 7th largest position. Grove Bank & Trust’s holdings in Amazon.com were worth $14,743,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

AMZN has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective 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. Barclays boosted their target price on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wedbush increased their price target on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Pivotal Research began coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective for the company. Finally, Stifel Nicolaus lifted their price target on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $234.55.

Amazon.com Stock Down 0.6 %

NASDAQ AMZN opened at $206.84 on Tuesday. Amazon.com, Inc. has a 1 year low of $139.52 and a 1 year high of $212.25. The stock has a market capitalization of $2.17 trillion, a PE ratio of 44.29, a PEG ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business’s 50-day moving average is $187.83 and its 200 day moving average is $184.71.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 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 firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,859 shares of company stock worth $10,215,097. Corporate insiders own 10.80% of the company’s stock.

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.