Granger Management LLC Sells 2,016 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Granger Management LLC trimmed its position in Amazon.com, Inc. (NASDAQ:AMZN) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,822 shares of the e-commerce giant’s stock after selling 2,016 shares during the quarter. Amazon.com comprises 2.2% of Granger Management LLC’s investment portfolio, making the stock its 4th biggest position. Granger Management LLC’s holdings in Amazon.com were worth $6,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at $25,000. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the fourth quarter valued at approximately $35,000. Cooksen Wealth LLC acquired a new position in shares of Amazon.com during the first quarter worth about $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Amazon.com during the first quarter worth $40,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler upped their target price on Amazon.com from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Telsey Advisory Group restated an “outperform” rating and set a $265.00 target price on shares of Amazon.com in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Amazon.com from $230.00 to $266.00 in a research note on Tuesday, July 22nd. Moffett Nathanson raised their target price on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Finally, Citizens Jmp started coverage on shares of Amazon.com in a research report on Thursday, July 10th. They issued a “strong-buy” rating on the stock. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $262.87.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 25,096,253 shares of company stock worth $5,673,745,409 in the last quarter. Insiders own 9.70% of the company’s stock.

Amazon.com Stock Up 2.9%

Amazon.com stock opened at $230.98 on Friday. Amazon.com, Inc. has a 52 week low of $161.38 and a 52 week high of $242.52. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 35.21, a PEG ratio of 1.51 and a beta of 1.31. The company’s 50-day moving average price is $221.06 and its two-hundred day moving average price is $208.69.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The firm had revenue of $167.70 billion during the quarter, compared to analysts’ expectations of $161.80 billion. During the same period last year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Profile

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.