Fortress Financial Solutions LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Fortress Financial Solutions LLC trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,537 shares of the e-commerce giant’s stock after selling 102 shares during the period. Amazon.com comprises approximately 1.5% of Fortress Financial Solutions LLC’s holdings, making the stock its 14th biggest holding. Fortress Financial Solutions LLC’s holdings in Amazon.com were worth $1,053,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Private Capital Advisors Inc. increased its stake in shares of Amazon.com by 8.0% during the 1st quarter. Private Capital Advisors Inc. now owns 74,345 shares of the e-commerce giant’s stock worth $14,145,000 after purchasing an additional 5,522 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of Amazon.com by 3.8% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 34,586 shares of the e-commerce giant’s stock worth $6,580,000 after purchasing an additional 1,257 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of Amazon.com by 36.6% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 43,971 shares of the e-commerce giant’s stock worth $8,366,000 after purchasing an additional 11,776 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in shares of Amazon.com by 80.5% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 54,488 shares of the e-commerce giant’s stock worth $10,367,000 after purchasing an additional 24,294 shares in the last quarter. Finally, Parker Investment Management LLC increased its stake in shares of Amazon.com by 15.6% during the 1st quarter. Parker Investment Management LLC now owns 2,657 shares of the e-commerce giant’s stock worth $506,000 after purchasing an additional 359 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the transaction, the insider owned 897,722,088 shares in the company, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 25,101,037 shares of company stock valued at $5,674,726,368. 9.70% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $222.69 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Amazon.com, Inc. has a fifty-two week low of $161.38 and a fifty-two week high of $242.52. The firm has a 50-day simple moving average of $219.65 and a 200 day simple moving average of $208.61. The company has a market cap of $2.37 trillion, a PE ratio of 33.95, a P/E/G ratio of 1.50 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on AMZN. Truist Financial lifted their target price on shares of Amazon.com from $226.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Bank of America lifted their target price on shares of Amazon.com from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Citizens Jmp began coverage on shares of Amazon.com in a research note on Thursday, July 10th. They issued a “strong-buy” rating for the company. Roth Capital set a $250.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Telsey Advisory Group lifted their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has an average rating of “Buy” and a consensus price target of $262.45.

About Amazon.com

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.