Grove Bank & Trust Sells 5,133 Shares of Amazon.com, Inc. $AMZN

Grove Bank & Trust reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,076 shares of the e-commerce giant’s stock after selling 5,133 shares during the period. Amazon.com makes up 1.6% of Grove Bank & Trust’s portfolio, making the stock its 12th biggest holding. Grove Bank & Trust’s holdings in Amazon.com were worth $13,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilson Asset Management International PTY Ltd. bought a new stake in shares of Amazon.com during the 2nd quarter worth $11,102,000. ARK Investment Management LLC raised its position in Amazon.com by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock valued at $250,213,000 after purchasing an additional 86,978 shares in the last quarter. Buckhead Capital Management LLC lifted its stake in Amazon.com by 16.1% during the second quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock worth $6,232,000 after purchasing an additional 3,948 shares during the last quarter. Flaharty Asset Management LLC boosted its holdings in shares of Amazon.com by 87.7% in the 1st quarter. Flaharty Asset Management LLC now owns 5,088 shares of the e-commerce giant’s stock worth $968,000 after purchasing an additional 2,377 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its position in shares of Amazon.com by 6.0% during the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock valued at $249,295,000 after purchasing an additional 63,924 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of several research reports. Barclays reaffirmed an “overweight” rating and issued a $300.00 target price (up previously from $275.00) on shares of Amazon.com in a research note on Friday, October 31st. CIBC increased their target price on shares of Amazon.com to $315.00 in a report on Monday, October 20th. BNP Paribas began coverage on shares of Amazon.com in a research report on Monday, November 24th. They issued an “outperform” rating on the stock. Susquehanna set a $300.00 price target on shares of Amazon.com and gave the company a “positive” rating in a research report on Friday, October 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of Amazon.com in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.50.

Amazon.com Trading Down 0.6%

AMZN opened at $221.27 on Thursday. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $258.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The business has a 50 day simple moving average of $229.32 and a two-hundred day simple moving average of $225.23. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.53 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.38. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $216.94, for a total value of $4,311,031.68. Following the completion of the sale, the chief executive officer directly owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 22,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $250.03, for a total transaction of $5,500,660.00. Following the transaction, the chief executive officer owned 493,507 shares in the company, valued at $123,391,555.21. This represents a 4.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,234 shares of company stock worth $19,076,767. 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.