Griffin Asset Management Inc. Sells 1,947 Shares of Amazon.com, Inc. $AMZN

Griffin Asset Management Inc. lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,680 shares of the e-commerce giant’s stock after selling 1,947 shares during the period. Amazon.com comprises about 1.8% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Griffin Asset Management Inc.’s holdings in Amazon.com were worth $15,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Carderock Capital Management Inc. bought a new position in shares of Amazon.com during the second quarter worth about $27,000. Cooksen Wealth LLC bought a new position in Amazon.com during the 1st quarter worth approximately $36,000. Inlight Wealth Management LLC bought a new position in Amazon.com during the 1st quarter worth approximately $40,000. Capitol Family Office Inc. bought a new stake in shares of Amazon.com in the 1st quarter valued at approximately $42,000. Finally, Maryland Capital Advisors Inc. increased its holdings in shares of Amazon.com by 81.9% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 17,785 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $221.57, for a total value of $3,940,622.45. Following the completion of the sale, the chief executive officer directly owned 3,138 shares of the company’s stock, valued at approximately $695,286.66. This represents a 85.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 6,835 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $221.62, for a total value of $1,514,772.70. Following the sale, the chief executive officer directly owned 520,507 shares in the company, valued at approximately $115,354,761.34. The trade was a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 95,411 shares of company stock valued at $21,222,702. 9.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $340.00 price objective on shares of Amazon.com in a report on Monday. Piper Sandler restated a “negative” rating on shares of Amazon.com in a research report on Friday. Canaccord Genuity Group set a $300.00 price objective on shares of Amazon.com and gave the stock a “buy” rating in a research note on Friday. Bank of America upped their target price on Amazon.com from $272.00 to $303.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup upped their target price on Amazon.com from $270.00 to $320.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, fifty-one have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $291.94.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $254.00 on Tuesday. 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 50 day simple moving average of $226.02 and a 200-day simple moving average of $216.95. The company has a market cap of $2.71 trillion, a PE ratio of 38.72, a P/E/G ratio of 1.52 and a beta of 1.28. Amazon.com, Inc. has a 12-month low of $161.38 and a 12-month high of $258.60.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.38. The firm had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. Amazon.com has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.