Steel Grove Capital Advisors LLC Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Steel Grove Capital Advisors LLC trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,147 shares of the e-commerce giant’s stock after selling 2,359 shares during the period. Amazon.com comprises approximately 0.7% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 17th largest position. Steel Grove Capital Advisors LLC’s holdings in Amazon.com were worth $5,053,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Phillips Wealth Planners LLC boosted its position in Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after buying an additional 224 shares during the period. Stonekeep Investments LLC purchased a new stake in Amazon.com during the second quarter valued at about $2,588,000. Concord Investment Counsel Inc. purchased a new stake in Amazon.com during the first quarter valued at about $20,790,000. O Shaughnessy Asset Management LLC boosted its position in Amazon.com by 26.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock valued at $116,222,000 after buying an additional 133,471 shares during the period. Finally, Eos Management L.P. boosted its position in Amazon.com by 27.1% during the second quarter. Eos Management L.P. now owns 47,554 shares of the e-commerce giant’s stock valued at $9,190,000 after buying an additional 10,147 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of AMZN opened at $189.70 on Wednesday. The company has a market capitalization of $1.97 trillion, a P/E ratio of 53.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $182.82 and a 200 day moving average of $183.53. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMZN has been the subject of a number of analyst reports. Barclays increased their target price on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. TD Securities increased their target price on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Evercore ISI reiterated an “outperform” rating and set a $240.00 target price on shares of Amazon.com in a report on Friday, October 11th. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of Amazon.com in a report on Tuesday, October 15th. Finally, Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

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.