Fred Alger Management LLC Has $1.26 Billion Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Fred Alger Management LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,521,736 shares of the e-commerce giant’s stock after acquiring an additional 108,494 shares during the quarter. Amazon.com accounts for approximately 6.1% of Fred Alger Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Fred Alger Management LLC’s holdings in Amazon.com were worth $1,260,325,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Capital Research Global Investors increased its position in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares during the period. Jennison Associates LLC lifted its position in shares of Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after buying an additional 295,132 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Amazon.com by 7.4% during the 1st quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock worth $7,642,732,000 after acquiring an additional 2,932,192 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMZN. Barclays increased their price target on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen raised their target price on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Amazon.com in a report on Thursday. Stifel Nicolaus lowered their price target on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $236.78.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $186.38 on Friday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 52.21, a PEG ratio of 1.38 and a beta of 1.14. The firm has a 50 day simple moving average of $183.11 and a 200 day simple moving average of $183.54.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Research analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock valued at $9,877,423 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

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.