Algert Global LLC Makes New $15.08 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Algert Global LLC bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 80,943 shares of the e-commerce giant’s stock, valued at approximately $15,082,000. Amazon.com comprises approximately 0.4% of Algert Global LLC’s portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of AMZN. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the 3rd quarter worth approximately $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Performance

AMZN opened at $224.19 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s 50-day simple moving average is $212.34 and its 200 day simple moving average is $193.77. The firm has a market capitalization of $2.36 trillion, a PE ratio of 48.01, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a 52-week low of $144.05 and a 52-week high of $233.00.

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

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Rosenblatt Securities raised their price target on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer boosted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.44.

Insider Activity

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by company insiders.

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.