Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC cut its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 31.0% in the 1st quarter, Holdings Channel reports. The fund owned 9,211 shares of the e-commerce giant’s stock after selling 4,139 shares during the quarter. Amazon.com accounts for approximately 0.6% of Fortitude Family Office LLC’s portfolio, making the stock its 29th biggest position. Fortitude Family Office LLC’s holdings in Amazon.com were worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Momentous Wealth Management Inc. acquired a new position in Amazon.com during the fourth quarter worth $749,000. Segall Bryant & Hamill LLC boosted its position in shares of Amazon.com by 14.3% during 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 in the last quarter. Bearing Point Capital LLC acquired a new position in shares of Amazon.com during the 4th quarter worth $12,014,000. Evergreen Capital Management LLC grew its stake in shares of Amazon.com by 0.5% during the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant’s stock worth $53,213,000 after purchasing an additional 1,198 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings 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 in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Up 2.8%

Shares of AMZN opened at $223.30 on Friday. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The firm has a market capitalization of $2.37 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $202.26 and its 200 day simple moving average is $209.01.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the business posted $0.98 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $204.98, for a total value of $512,450.00. Following the transaction, the chief executive officer now owns 517,050 shares of the company’s stock, valued at approximately $105,984,909. This trade represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 2,695 shares of Amazon.com stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total transaction of $541,129.05. Following the transaction, the vice president now owns 119,780 shares in the company, valued at $24,050,626.20. The trade was a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,037 shares of company stock worth $20,531,075. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMZN. Scotiabank decreased their price objective on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Stifel Nicolaus decreased their price target on Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Benchmark restated a “buy” rating and issued a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Morgan Stanley dropped their price objective on Amazon.com from $280.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Bank of America boosted their target price on Amazon.com from $230.00 to $248.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. Four analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $245.81.

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.