Granite Investment Partners LLC Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Granite Investment Partners LLC lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,707 shares of the e-commerce giant's stock after selling 3,280 shares during the period. Amazon.com comprises 2.1% of Granite Investment Partners LLC's portfolio, making the stock its 3rd largest holding. Granite Investment Partners LLC's holdings in Amazon.com were worth $47,543,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMZN. Accordant Advisory Group Inc increased its holdings in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in Amazon.com during the 4th quarter worth about $27,000. LSV Asset Management acquired a new position in Amazon.com during the 4th quarter worth about $35,000. Perritt Capital Management Inc grew its holdings in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after acquiring an additional 80 shares during the last quarter. Finally, Quattro Financial Advisors LLC increased its holdings in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Trading Up 0.5 %

Shares of NASDAQ:AMZN traded up $0.98 during mid-day trading on Friday, hitting $193.06. The company had a trading volume of 29,609,499 shares, compared to its average volume of 41,721,953. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a market capitalization of $2.05 trillion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The firm has a fifty day moving average price of $188.50 and a 200 day moving average price of $207.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Amazon.com's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 5,848 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.72, for a total value of $1,290,770.56. Following the transaction, the senior vice president now directly owns 69,162 shares of the company's stock, valued at $15,265,436.64. The trade was a 7.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,298 shares of company stock worth $23,818,478. Corporate insiders own 9.70% of the company's stock.

Analyst Ratings Changes

AMZN has been the topic of a number of recent research reports. Oppenheimer reduced their price objective on shares of Amazon.com from $260.00 to $220.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. JMP Securities restated a "market outperform" rating on shares of Amazon.com in a report on Tuesday. DA Davidson reduced their price objective on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. BNP Paribas upgraded shares of Amazon.com to a "hold" rating in a report on Wednesday, April 30th. Finally, Phillip Securities downgraded shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $244.09.

Amazon.com Profile

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.