Alerus Financial NA Has $24.14 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Alerus Financial NA cut its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,536 shares of the e-commerce giant’s stock after selling 14,909 shares during the period. Amazon.com makes up about 1.8% of Alerus Financial NA’s portfolio, making the stock its 13th biggest holding. Alerus Financial NA’s holdings in Amazon.com were worth $24,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Amazon.com Trading Up 0.0 %

AMZN opened at $222.13 on Friday. The firm has a market capitalization of $2.34 trillion, a PE ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a fifty-two week low of $148.21 and a fifty-two week high of $233.00. The company’s 50-day moving average is $215.78 and its 200 day moving average is $195.11.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities boosted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer increased their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822 in the last three months. 10.80% of the stock is currently 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.