Grassi Investment Management Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Grassi Investment Management increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,370 shares of the e-commerce giant’s stock after buying an additional 5,535 shares during the period. Amazon.com comprises about 1.1% of Grassi Investment Management’s holdings, making the stock its 25th largest position. Grassi Investment Management’s holdings in Amazon.com were worth $12,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Amazon.com by 3.2% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 142,578 shares of the e-commerce giant’s stock worth $18,125,000 after acquiring an additional 4,387 shares during the period. Spire Wealth Management lifted its holdings in shares of Amazon.com by 4.0% during the 3rd quarter. Spire Wealth Management now owns 359,675 shares of the e-commerce giant’s stock worth $45,722,000 after acquiring an additional 13,880 shares during the period. Fort Sheridan Advisors LLC lifted its holdings in shares of Amazon.com by 2.6% during the 3rd quarter. Fort Sheridan Advisors LLC now owns 77,519 shares of the e-commerce giant’s stock worth $9,854,000 after acquiring an additional 1,942 shares during the period. tru Independence LLC lifted its holdings in shares of Amazon.com by 7.2% during the 3rd quarter. tru Independence LLC now owns 2,893 shares of the e-commerce giant’s stock worth $368,000 after acquiring an additional 195 shares during the period. Finally, Costello Asset Management INC lifted its holdings in shares of Amazon.com by 1,460.6% during the 3rd quarter. Costello Asset Management INC now owns 23,565 shares of the e-commerce giant’s stock worth $2,996,000 after acquiring an additional 22,055 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMZN. Oppenheimer increased their price objective on shares of Amazon.com from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Argus increased their target price on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Wednesday, May 1st. Wedbush reissued an “outperform” rating and set a $225.00 target price on shares of Amazon.com in a research report on Wednesday, May 1st. Finally, DA Davidson reissued a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research report on Thursday, April 18th. One analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average target price of $215.37.

Amazon.com Stock Performance

Shares of AMZN opened at $189.08 on Friday. The business’s fifty day moving average price is $182.78 and its 200 day moving average price is $171.54. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $191.70. The stock has a market capitalization of $1.97 trillion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. Equities research analysts forecast that Amazon.com, Inc. will post 4.72 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the transaction, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,338 shares of company stock worth $11,894,344. 10.80% of the stock is 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.