Grandview Asset Management LLC Sells 2,161 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Jun 28th, 2023

Grandview Asset Management LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,549 shares of the e-commerce giant’s stock after selling 2,161 shares during the period. Amazon.com accounts for approximately 1.7% of Grandview Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Grandview Asset Management LLC’s holdings in Amazon.com were worth $2,949,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bridgefront Capital LLC acquired a new position in Amazon.com during the first quarter worth approximately $228,000. Krane Funds Advisors LLC grew its stake in shares of Amazon.com by 239.1% in the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $258,000. My Personal CFO LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $261,000. Finally, Worth Asset Management LLC purchased a new position in shares of Amazon.com in the 1st quarter valued at approximately $191,000. Institutional investors and hedge funds own 56.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMZN shares. Robert W. Baird lifted their target price on Amazon.com from $125.00 to $130.00 in a research note on Friday, April 28th. JPMorgan Chase & Co. lifted their target price on Amazon.com from $135.00 to $145.00 in a research note on Friday, April 28th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Amazon.com in a research note on Wednesday, April 12th. Wolfe Research lifted their price target on Amazon.com from $130.00 to $140.00 in a research note on Friday, April 28th. Finally, StockNews.com initiated coverage on Amazon.com in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.41.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $13,846,568. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $115.60, for a total value of $358,360.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $13,846,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $125.07, for a total value of $62,535.00. Following the completion of the sale, the chief executive officer now directly owns 151,780 shares of the company’s stock, valued at approximately $18,983,124.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,845 shares of company stock valued at $8,408,115. Company insiders own 12.70% of the company’s stock.

Amazon.com Stock Performance

Amazon.com stock opened at $129.18 on Wednesday. The firm has a market capitalization of $1.33 trillion, a P/E ratio of 307.57, a PEG ratio of 2.52 and a beta of 1.26. The stock has a fifty day moving average price of $116.38 and a 200 day moving average price of $102.85. Amazon.com, Inc. has a 52 week low of $81.43 and a 52 week high of $146.57. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The firm had revenue of $127.36 billion during the quarter, compared to the consensus estimate of $124.57 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com, Inc. will post 1.56 earnings per share for the current year.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.