Amazon.com, Inc. (NASDAQ:AMZN) is Fred Alger Management LLC’s 3rd Largest Position

Fred Alger Management LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,382,394 shares of the e-commerce giant’s stock after selling 139,342 shares during the period. Amazon.com makes up approximately 5.8% of Fred Alger Management LLC’s portfolio, making the stock its 3rd largest position. Fred Alger Management LLC’s holdings in Amazon.com were worth $1,189,231,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMZN. International Assets Investment Management LLC grew its stake in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Amazon.com by 13,606.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after buying an additional 3,903,889 shares during the period. Wulff Hansen & CO. grew its position in shares of Amazon.com by 20,517.4% during the second quarter. Wulff Hansen & CO. now owns 3,884,325 shares of the e-commerce giant’s stock worth $750,646,000 after buying an additional 3,865,485 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Amazon.com during the third quarter worth approximately $492,144,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 0.0 %

Shares of Amazon.com stock opened at $222.13 on Thursday. Amazon.com, Inc. has a 52-week low of $148.21 and a 52-week high of $233.00. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $215.07 and its 200-day simple moving average is $194.92. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 47.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s 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 transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on AMZN shares. 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 report on Friday, November 1st. Tigress Financial boosted their target price on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Jefferies Financial Group increased their target price on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday, December 16th. Bank of America lifted their price target on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wolfe Research increased their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.67.

Amazon.com 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.