Altarock Partners LP Grows Holdings in Amazon.com, Inc. $AMZN

Altarock Partners LP increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 20.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,275,906 shares of the e-commerce giant’s stock after buying an additional 1,073,491 shares during the quarter. Amazon.com accounts for approximately 25.1% of Altarock Partners LP’s investment portfolio, making the stock its 2nd largest position. Altarock Partners LP owned approximately 0.06% of Amazon.com worth $1,376,871,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Carderock Capital Management Inc. bought a new position in Amazon.com during the 2nd quarter worth $27,000. Maryland Capital Advisors Inc. grew its position in shares of Amazon.com by 81.9% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 95 shares during the last quarter. Ryan Investment Management Inc. acquired a new stake in shares of Amazon.com in the second quarter valued at about $48,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Amazon.com during the first quarter worth about $59,000. Finally, Access Investment Management LLC bought a new position in shares of Amazon.com during the second quarter worth about $74,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on AMZN shares. The Goldman Sachs Group upped their target price on Amazon.com from $240.00 to $275.00 and gave the company a “buy” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. restated a “buy” rating and issued a $305.00 price target on shares of Amazon.com in a research report on Friday. Maxim Group increased their price objective on shares of Amazon.com from $272.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Cowen reissued a “buy” rating on shares of Amazon.com in a research note on Tuesday, November 25th. Finally, Bank of America upped their price target on shares of Amazon.com from $272.00 to $303.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifty-six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.43.

Insider Activity

In other Amazon.com news, CEO Andrew R. Jassy sold 19,872 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $216.94, for a total value of $4,311,031.68. Following the transaction, the chief executive officer directly owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 8,173 shares of Amazon.com stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $250.03, for a total transaction of $2,043,495.19. Following the transaction, the director owned 80,030 shares of the company’s stock, valued at $20,009,900.90. This represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 82,234 shares of company stock valued at $19,076,767. 9.70% of the stock is currently owned by insiders.

Amazon.com Stock Performance

Shares of AMZN opened at $226.19 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 0.80. The stock has a 50-day moving average of $229.35 and a 200-day moving average of $224.73. The company has a market cap of $2.42 trillion, a PE ratio of 31.95, a P/E/G ratio of 1.58 and a beta of 1.37. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $258.60.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The business had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. During the same period in the prior year, the business earned $1.43 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.