Grove Bank & Trust Buys 4,082 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Grove Bank & Trust grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,151 shares of the e-commerce giant's stock after acquiring an additional 4,082 shares during the period. Amazon.com comprises approximately 1.9% of Grove Bank & Trust's investment portfolio, making the stock its 8th biggest holding. Grove Bank & Trust's holdings in Amazon.com were worth $14,488,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Amazon.com during the 4th quarter worth $27,266,582,000. GAMMA Investing LLC lifted its stake in Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares during the period. Capital World Investors grew its holdings in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. grew its holdings in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMZN shares. Evercore ISI lowered their price target on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein set a $235.00 target price on Amazon.com and gave the stock an "outperform" rating in a report on Tuesday. Truist Financial increased their target price on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday. Benchmark reissued a "buy" rating and issued a $260.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Finally, BNP Paribas raised Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of "Moderate Buy" and an average price target of $245.60.

Insider Activity

In other Amazon.com news, CFO Brian T. Olsavsky sold 17,750 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $201.57, for a total value of $3,577,867.50. Following the completion of the transaction, the chief financial officer owned 49,000 shares in the company, valued at approximately $9,876,930. This represents a 26.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew S. Garman sold 20,923 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,211,799.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,426,963 shares of company stock worth $757,297,707. 9.70% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

Shares of AMZN stock traded up $3.21 on Friday, hitting $223.13. The company had a trading volume of 29,632,353 shares, compared to its average volume of 42,018,920. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.37 trillion, a P/E ratio of 36.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. The company has a 50-day moving average price of $205.76 and a 200-day moving average price of $208.76.

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 for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the business earned $0.98 earnings per share. Amazon.com's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.