Fortitude Family Office LLC Purchases 1,829 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Fortitude Family Office LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 41.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,205 shares of the e-commerce giant’s stock after acquiring an additional 1,829 shares during the quarter. Amazon.com accounts for approximately 0.7% of Fortitude Family Office LLC’s holdings, making the stock its 24th largest position. Fortitude Family Office LLC’s holdings in Amazon.com were worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMZN. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the fourth quarter worth approximately $30,000. Strid Group LLC purchased a new stake in Amazon.com in the fourth quarter worth approximately $43,000. Harbor Investment Advisory LLC grew its position in Amazon.com by 0.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 1,988 shares during the period. Clarity Asset Management Inc. purchased a new stake in Amazon.com during the 4th quarter valued at $46,000. Finally, Steph & Co. bought a new position in shares of Amazon.com during the 1st quarter valued at $65,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 1,463,437 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $200.08, for a total transaction of $292,804,474.96. Following the transaction, the insider now directly owns 935,211,842 shares in the company, valued at $187,117,185,347.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amazon.com news, insider Jeffrey P. Bezos sold 1,463,437 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $200.08, for a total transaction of $292,804,474.96. Following the completion of the sale, the insider now owns 935,211,842 shares in the company, valued at $187,117,185,347.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the sale, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,059,152 shares of company stock worth $1,212,453,840. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Stock Performance

AMZN stock opened at $178.88 on Wednesday. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The business has a 50-day moving average price of $184.20 and a 200 day moving average price of $180.89. The company has a market capitalization of $1.86 trillion, a P/E ratio of 50.11, a PEG ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Analysts Set New Price Targets

Several brokerages recently commented on AMZN. Morgan Stanley cut their price objective on Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Jefferies Financial Group reduced their price target on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Amazon.com from $234.00 to $239.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. TD Cowen boosted their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their price target on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $221.69.

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.