Amazon Institutional Holdings Trimmed Amid Revenue Beat

Concorde Asset Management LLC has trimmed its holdings in Amazon.com Inc. (NASDAQ:AMZN) by 37.3% during the first quarter, according to a recent SEC filing.

The fund owned 4,415 shares of Amazon's stock after selling 2,629 shares during the quarter. Concorde Asset Management LLC's holdings in Amazon were worth $920,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings in AMZN. Gryphon Financial Partners LLC lifted its holdings in Amazon by 7.5% during the first quarter. First Citizens Bank & Trust Co. raised its position in shares of Amazon by 1.7% during the same period.

Amazon's revenue was $200.61 billion for the last reported quarter, beating analysts' expectations of $197.03 billion. The company has a market cap of $2.86 trillion and a price-to-earnings ratio of 21.33. Analysts predict that Amazon will post EPS of 8.05 for the current year.