Granite Investment Partners LLC Has $53.82 Million Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by MarketBeat News on Aug 6th, 2022

Granite Investment Partners LLC cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,508 shares of the e-commerce giant’s stock after selling 602 shares during the period. Amazon.com makes up approximately 1.8% of Granite Investment Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Granite Investment Partners LLC’s holdings in Amazon.com were worth $53,815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Clarity Wealth Advisors LLC boosted its holdings in shares of Amazon.com by 4.1% in the first quarter. Clarity Wealth Advisors LLC now owns 607 shares of the e-commerce giant’s stock valued at $1,978,000 after acquiring an additional 24 shares in the last quarter. Altfest L J & Co. Inc. boosted its holdings in shares of Amazon.com by 33.0% in the first quarter. Altfest L J & Co. Inc. now owns 3,184 shares of the e-commerce giant’s stock valued at $10,380,000 after acquiring an additional 790 shares in the last quarter. Gamble Jones Investment Counsel boosted its holdings in shares of Amazon.com by 6.2% in the first quarter. Gamble Jones Investment Counsel now owns 15,087 shares of the e-commerce giant’s stock valued at $49,181,000 after acquiring an additional 881 shares in the last quarter. Greenspring Advisors LLC lifted its stake in Amazon.com by 140.3% during the first quarter. Greenspring Advisors LLC now owns 2,220 shares of the e-commerce giant’s stock valued at $222,000 after purchasing an additional 1,296 shares during the last quarter. Finally, Patriot Investment Management Inc. lifted its stake in Amazon.com by 2.4% during the first quarter. Patriot Investment Management Inc. now owns 1,390 shares of the e-commerce giant’s stock valued at $4,531,000 after purchasing an additional 33 shares during the last quarter. 72.51% of the stock is currently owned by institutional investors.

Amazon.com Stock Down 1.2 %

Shares of NASDAQ:AMZN opened at $140.80 on Friday. Amazon.com, Inc. has a one year low of $101.26 and a one year high of $188.11. The company has a 50 day moving average of $117.09 and a 200-day moving average of $134.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.68. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 126.22, a P/E/G ratio of 6.35 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. The business had revenue of $121.23 billion for the quarter, compared to analyst estimates of $119.16 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Amazon.com, Inc. will post 0.97 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 1,181 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $2,262.00, for a total transaction of $2,671,422.00. Following the completion of the transaction, the chief executive officer now owns 92,781 shares in the company, valued at $209,870,622. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO David H. Clark sold 2,270 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $2,169.22, for a total transaction of $4,924,129.40. Following the completion of the transaction, the chief executive officer now owns 6,695 shares in the company, valued at $14,522,927.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 1,181 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $2,262.00, for a total transaction of $2,671,422.00. Following the transaction, the chief executive officer now owns 92,781 shares of the company’s stock, valued at approximately $209,870,622. The disclosure for this sale can be found here. Insiders sold a total of 4,803 shares of company stock worth $10,528,337 in the last quarter. 12.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent research reports. Mizuho cut their target price on shares of Amazon.com from $197.50 to $155.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. They noted that the move was a valuation call. The Goldman Sachs Group reissued a “buy” rating and set a $175.00 target price on shares of Amazon.com in a research note on Thursday. StockNews.com upgraded shares of Amazon.com from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Citigroup upped their price target on shares of Amazon.com from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Telsey Advisory Group upped their price target on shares of Amazon.com from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $178.11.

About Amazon.com

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