Fortitude Advisory Group L.L.C. Increases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fortitude Advisory Group L.L.C. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 13.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,977 shares of the e-commerce giant’s stock after buying an additional 3,392 shares during the period. Amazon.com makes up 3.4% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 5th largest position. Fortitude Advisory Group L.L.C.’s holdings in Amazon.com were worth $4,877,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Momentous Wealth Management Inc. bought a new stake in shares of Amazon.com during the fourth quarter worth $749,000. Segall Bryant & Hamill LLC boosted its stake in Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock worth $69,572,000 after purchasing an additional 39,696 shares during the period. Bearing Point Capital LLC bought a new position in Amazon.com during the 4th quarter worth about $12,014,000. Evergreen Capital Management LLC raised its stake in shares of Amazon.com by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock valued at $53,213,000 after purchasing an additional 1,198 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Amazon.com by 173.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant’s stock valued at $759,434,000 after purchasing an additional 2,196,353 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Activity at Amazon.com

In related news, VP Shelley Reynolds sold 2,695 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the sale, the vice president owned 119,780 shares of the company’s stock, valued at $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 224,926 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $223.56, for a total value of $50,284,456.56. Following the completion of the sale, the insider owned 905,454,975 shares of the company’s stock, valued at $202,423,514,211. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,426,963 shares of company stock worth $757,297,707 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMZN shares. Mizuho decreased their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a report on Tuesday. JMP Securities restated a “market outperform” rating on shares of Amazon.com in a report on Tuesday, May 6th. Bank of America raised their target price on shares of Amazon.com from $230.00 to $248.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Finally, Tigress Financial boosted their price target on shares of Amazon.com from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.60.

Amazon.com Trading Up 1.5%

AMZN opened at $223.13 on Friday. The company’s 50 day moving average is $205.76 and its 200-day moving average is $208.76. The company has a market cap of $2.37 trillion, a P/E ratio of 36.34, a PEG ratio of 1.66 and a beta of 1.33. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. 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.