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

Fortitude Advisory Group L.L.C. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 24,585 shares of the e-commerce giant’s stock after selling 338 shares during the period. Amazon.com comprises approximately 3.3% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 6th biggest holding. Fortitude Advisory Group L.L.C.’s holdings in Amazon.com were worth $5,394,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AMZN. Rench Wealth Management Inc. increased its holdings in shares of Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after buying an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares during the period. Blankinship & Foster LLC lifted its holdings in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares during the last quarter. Umpqua Bank boosted its position in shares of Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after purchasing an additional 137 shares during the period. Finally, One Wealth Capital Management LLC purchased a new position in Amazon.com in the 4th quarter worth about $4,270,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

AMZN has been the subject of several recent analyst reports. Canaccord Genuity Group raised their target price on shares of Amazon.com from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Maxim Group raised their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Redburn Atlantic boosted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Tigress Financial raised their target price on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $275.00 price target on shares of Amazon.com in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Trading Down 0.7 %

Amazon.com stock opened at $228.68 on Tuesday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market cap of $2.40 trillion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The business has a 50 day moving average price of $228.21 and a two-hundred day moving average price of $202.55. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. As a group, equities analysts forecast that Amazon.com, Inc. will post 6.24 EPS for the current year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,611 shares of company stock worth $11,122,402. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Company 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.