Grimes & Company Inc. Has $25.62 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Grimes & Company Inc. reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 137,519 shares of the e-commerce giant’s stock after selling 4,410 shares during the quarter. Grimes & Company Inc.’s holdings in Amazon.com were worth $25,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter valued at approximately $37,000. Christopher J. Hasenberg Inc increased its position in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Koesten Hirschmann & Crabtree INC. bought a new stake in Amazon.com in the 1st quarter valued at $69,000. Finally, Innealta Capital LLC bought a new stake in shares of Amazon.com in the second quarter valued at about $77,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the completion of the transaction, the director now directly owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,026,683 shares of company stock valued at $1,252,148,795. Company insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 1.0 %

NASDAQ:AMZN opened at $205.74 on Thursday. Amazon.com, Inc. has a 1 year low of $142.81 and a 1 year high of $215.90. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 44.06, a PEG ratio of 1.35 and a beta of 1.14. The stock has a 50-day moving average price of $194.14 and a two-hundred day moving average price of $186.66.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMZN shares. Rosenblatt Securities lifted their price objective on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Sanford C. Bernstein lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI lifted their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Maxim Group boosted their price target on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.20.

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.