Fortitude Family Office LLC Increases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Fortitude Family Office LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 100.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,449 shares of the e-commerce giant’s stock after buying an additional 6,244 shares during the period. Amazon.com comprises 0.9% of Fortitude Family Office LLC’s investment portfolio, making the stock its 21st largest position. Fortitude Family Office LLC’s holdings in Amazon.com were worth $2,320,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMZN. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter worth approximately $45,000. Values First Advisors Inc. purchased a new position in Amazon.com in the 3rd quarter worth approximately $56,000. Finally, Christopher J. Hasenberg Inc increased its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 1.3 %

AMZN stock opened at $213.44 on Wednesday. Amazon.com, Inc. has a 1-year low of $142.81 and a 1-year high of $215.90. The business has a fifty day moving average price of $195.51 and a 200-day moving average price of $187.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market capitalization of $2.24 trillion, a P/E ratio of 45.70, a P/E/G ratio of 1.41 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

AMZN has been the topic of a number of analyst reports. Needham & Company LLC lifted their price target on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Robert W. Baird lifted their price objective on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the sale, the director now owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This trade represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is owned by insiders.

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.