Grisanti Capital Management LLC boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 51.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,218 shares of the e-commerce giant’s stock after purchasing an additional 1,092 shares during the quarter. Amazon.com comprises 3.1% of Grisanti Capital Management LLC’s portfolio, making the stock its 14th largest position. Grisanti Capital Management LLC’s holdings in Amazon.com were worth $5,586,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Enterprise Trust & Investment Co acquired a new position in shares of Amazon.com during the second quarter worth $27,000. Phocas Financial Corp. acquired a new position in shares of Amazon.com during the second quarter worth $45,000. Litman Gregory Asset Management LLC acquired a new position in shares of Amazon.com during the second quarter worth $53,000. Financial Advantage Inc. lifted its position in shares of Amazon.com by 26.7% during the third quarter. Financial Advantage Inc. now owns 38 shares of the e-commerce giant’s stock worth $65,000 after purchasing an additional 8 shares in the last quarter. Finally, Cerebellum GP LLC lifted its position in shares of Amazon.com by 18.0% during the third quarter. Cerebellum GP LLC now owns 59 shares of the e-commerce giant’s stock worth $69,000 after purchasing an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 55.60% of the company’s stock.
AMZN traded down $7.44 during trading on Friday, hitting $1,780.76. The company had a trading volume of 134,155 shares, compared to its average volume of 3,108,799. The company has a market cap of $893.28 billion, a PE ratio of 88.48, a P/E/G ratio of 3.20 and a beta of 1.56. The business has a 50-day moving average of $1,759.99 and a 200-day moving average of $1,840.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.10 and a quick ratio of 0.84. Amazon.com, Inc. has a 1-year low of $1,307.00 and a 1-year high of $2,035.80.
Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 24th. The e-commerce giant reported $4.23 earnings per share for the quarter, missing the consensus estimate of $4.46 by ($0.23). Amazon.com had a net margin of 4.27% and a return on equity of 22.52%. The business had revenue of $69.98 billion for the quarter, compared to the consensus estimate of $68.72 billion. During the same quarter in the previous year, the firm earned $5.75 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. Research analysts forecast that Amazon.com, Inc. will post 20.52 earnings per share for the current year.
In other Amazon.com news, CEO Jeffrey A. Wilke sold 3,475 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,773.99, for a total transaction of $6,164,615.25. Following the completion of the sale, the chief executive officer now owns 10,000 shares in the company, valued at $17,739,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Mcgrath sold 304 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $1,749.91, for a total transaction of $531,972.64. Following the sale, the director now owns 2,324 shares of the company’s stock, valued at approximately $4,066,790.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,747 shares of company stock valued at $40,737,808. 16.10% of the stock is owned by insiders.
A number of research firms have recently commented on AMZN. Monness Crespi & Hardt set a $2,300.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird set a $2,080.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research report on Friday, October 25th. Susquehanna Bancshares set a $2,200.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reissued a “buy” rating and set a $2,200.00 target price on shares of Amazon.com in a research report on Friday, October 25th. Finally, William Blair reissued an “outperform” rating on shares of Amazon.com in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and forty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $2,189.97.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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