Steel Grove Capital Advisors LLC Sells 487 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Steel Grove Capital Advisors LLC lessened its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,423 shares of the e-commerce giant’s stock after selling 487 shares during the quarter. Amazon.com makes up 0.7% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 15th biggest position. Steel Grove Capital Advisors LLC’s holdings in Amazon.com were worth $4,837,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC bought a new position in Amazon.com in the fourth quarter worth $25,000. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the fourth quarter worth $27,000. LSV Asset Management bought a new position in Amazon.com in the fourth quarter worth $35,000. Perritt Capital Management Inc raised its holdings in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Compass Planning Associates Inc bought a new position in Amazon.com in the fourth quarter worth $51,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 1.5%

Shares of NASDAQ:AMZN opened at $223.13 on Monday. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock’s 50-day simple moving average is $206.44 and its two-hundred day simple moving average is $208.52. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 20,923 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David Zapolsky sold 13,570 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total value of $2,746,703.70. Following the completion of the transaction, the senior vice president directly owned 47,030 shares in the company, valued at $9,519,342.30. This trade represents a 22.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,426,963 shares of company stock valued at $757,297,707. 10.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMZN has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. Piper Sandler reiterated an “overweight” rating and issued a $212.00 price objective (down previously from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Scotiabank cut their target price on Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Cantor Fitzgerald increased their target price on Amazon.com from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Truist Financial increased their target price on Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.60.

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.