Amazon.com, Inc. (NASDAQ:AMZN) is Griffin Asset Management Inc.’s 8th Largest Position

Griffin Asset Management Inc. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,871 shares of the e-commerce giant’s stock after purchasing an additional 2,482 shares during the quarter. Amazon.com makes up 1.7% of Griffin Asset Management Inc.’s portfolio, making the stock its 8th biggest position. Griffin Asset Management Inc.’s holdings in Amazon.com were worth $14,469,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Proffitt & Goodson Inc. lifted its holdings in shares of Amazon.com by 1.5% in the 2nd quarter. Proffitt & Goodson Inc. now owns 16,169 shares of the e-commerce giant’s stock worth $3,125,000 after buying an additional 235 shares during the period. Trust Co. of Oklahoma raised its position in shares of Amazon.com by 0.7% in the 2nd quarter. Trust Co. of Oklahoma now owns 22,874 shares of the e-commerce giant’s stock worth $4,420,000 after acquiring an additional 153 shares in the last quarter. Harbour Trust & Investment Management Co raised its position in shares of Amazon.com by 28.9% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 13,894 shares of the e-commerce giant’s stock worth $2,685,000 after acquiring an additional 3,115 shares in the last quarter. Inlet Private Wealth LLC raised its position in shares of Amazon.com by 3.0% in the 2nd quarter. Inlet Private Wealth LLC now owns 6,554 shares of the e-commerce giant’s stock worth $1,267,000 after acquiring an additional 192 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its position in shares of Amazon.com by 12.1% in the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 33,354 shares of the e-commerce giant’s stock worth $6,446,000 after acquiring an additional 3,601 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMZN shares. Wedbush reissued an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. Morgan Stanley reduced their price target on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a research report on Friday, August 2nd. BMO Capital Markets boosted their price target on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird upped their target price on Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $222.49.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 4,710 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now owns 59,500 shares in the company, valued at $11,602,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the transaction, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is owned by corporate insiders.

Amazon.com Stock Performance

Shares of AMZN stock opened at $184.52 on Thursday. The company has a market capitalization of $1.92 trillion, a P/E ratio of 51.69, a P/E/G ratio of 1.29 and a beta of 1.14. The business’s 50 day moving average is $179.99 and its two-hundred day moving average is $181.44. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Analysts expect that Amazon.com, Inc. will post 4.86 EPS for the current fiscal 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.