Graves Light Lenhart Wealth Inc. Sells 93 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Graves Light Lenhart Wealth Inc. trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,761 shares of the e-commerce giant’s stock after selling 93 shares during the quarter. Amazon.com comprises about 1.2% of Graves Light Lenhart Wealth Inc.’s investment portfolio, making the stock its 24th biggest holding. Graves Light Lenhart Wealth Inc.’s holdings in Amazon.com were worth $9,658,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the last quarter. FMR LLC grew its position in Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC grew its position in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after purchasing an additional 4,087,933 shares during the last quarter. Finally, Norges Bank purchased a new stake in Amazon.com during the 4th quarter valued at about $27,266,582,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Bank of America increased their price objective on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Citigroup reissued a “buy” rating on shares of Amazon.com in a research report on Monday, June 2nd. Benchmark reissued a “buy” rating and set a $260.00 price objective on shares of Amazon.com in a research report on Friday, May 2nd. Royal Bank of Canada cut their price objective on shares of Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald increased their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.89.

Amazon.com Price Performance

NASDAQ AMZN opened at $212.10 on Friday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market cap of $2.25 trillion, a price-to-earnings ratio of 38.35, a PEG ratio of 1.50 and a beta of 1.33. The company’s 50 day moving average is $195.47 and its two-hundred day moving average is $209.16. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter last year, the business earned $0.98 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now owns 5,465 shares in the company, valued at $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total transaction of $512,450.00. Following the sale, the chief executive officer now owns 517,050 shares in the company, valued at approximately $105,984,909. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,037 shares of company stock worth $20,531,075. Company insiders own 9.70% 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.