Amazon.com, Inc. (NASDAQ:AMZN) is Granite Investment Partners LLC’s 7th Largest Position

Granite Investment Partners LLC reduced its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,465 shares of the e-commerce giant’s stock after selling 954 shares during the quarter. Amazon.com makes up approximately 1.7% of Granite Investment Partners LLC’s investment portfolio, making the stock its 7th largest position. Granite Investment Partners LLC’s holdings in Amazon.com were worth $41,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Halpern Financial Inc. increased its holdings in shares of Amazon.com by 5.3% during the first quarter. Halpern Financial Inc. now owns 16,810 shares of the e-commerce giant’s stock valued at $3,066,000 after acquiring an additional 840 shares in the last quarter. Ellenbecker Investment Group boosted its position in Amazon.com by 4.2% in the first quarter. Ellenbecker Investment Group now owns 7,991 shares of the e-commerce giant’s stock valued at $1,441,000 after buying an additional 323 shares during the last quarter. Safeguard Financial LLC boosted its position in Amazon.com by 340.3% in the first quarter. Safeguard Financial LLC now owns 9,220 shares of the e-commerce giant’s stock valued at $1,663,000 after buying an additional 7,126 shares during the last quarter. Clearview Wealth Advisors LLC boosted its position in Amazon.com by 3.0% in the first quarter. Clearview Wealth Advisors LLC now owns 3,051 shares of the e-commerce giant’s stock valued at $550,000 after buying an additional 90 shares during the last quarter. Finally, Perpetual Ltd boosted its position in Amazon.com by 5.9% in the 1st quarter. Perpetual Ltd now owns 642,502 shares of the e-commerce giant’s stock worth $115,895,000 after purchasing an additional 36,031 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $188.99 on Friday. The business has a 50-day moving average of $181.98 and a 200 day moving average of $183.42. Amazon.com, Inc. has a 12 month low of $118.35 and a 12 month high of $201.20. The stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock worth $9,877,423 in the last three months. 10.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AMZN. Bank of America lowered their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and set a $210.00 target price on shares of Amazon.com in a research report on Thursday, October 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $215.00 target price on shares of Amazon.com in a research report on Thursday, October 10th. Evercore ISI reiterated an “outperform” rating and set a $240.00 target price on shares of Amazon.com in a research report on Friday, October 11th. Finally, Stifel Nicolaus decreased their target price on Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.78.

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.