Fred Alger Management LLC Purchases 132,072 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Fred Alger Management LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,514,466 shares of the e-commerce giant's stock after purchasing an additional 132,072 shares during the quarter. Amazon.com accounts for approximately 6.8% of Fred Alger Management LLC's portfolio, making the stock its 3rd largest holding. Fred Alger Management LLC owned 0.06% of Amazon.com worth $1,429,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FWL Investment Management LLC lifted its position in shares of Amazon.com by 48.7% during the 4th quarter. FWL Investment Management LLC now owns 29,579 shares of the e-commerce giant's stock valued at $6,489,000 after buying an additional 9,687 shares in the last quarter. Circle Wealth Management LLC lifted its position in shares of Amazon.com by 0.3% during the 4th quarter. Circle Wealth Management LLC now owns 288,366 shares of the e-commerce giant's stock valued at $63,265,000 after buying an additional 804 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in shares of Amazon.com by 27.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 634,276 shares of the e-commerce giant's stock valued at $139,154,000 after buying an additional 137,492 shares in the last quarter. Coastal Bridge Advisors LLC lifted its position in shares of Amazon.com by 13.3% during the 4th quarter. Coastal Bridge Advisors LLC now owns 24,986 shares of the e-commerce giant's stock valued at $5,482,000 after buying an additional 2,928 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its position in shares of Amazon.com by 2.9% during the 4th quarter. Driehaus Capital Management LLC now owns 9,943 shares of the e-commerce giant's stock valued at $2,181,000 after buying an additional 277 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMZN shares. Rosenblatt Securities increased their target price on Amazon.com from $287.00 to $288.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Royal Bank of Canada decreased their price objective on Amazon.com from $235.00 to $230.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Maxim Group raised their price objective on Amazon.com from $260.00 to $280.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald raised their price objective on Amazon.com from $230.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. According to MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and a consensus price target of $244.09.

Insider Activity

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the completion of the sale, the chief executive officer now owns 2,148,694 shares in the company, valued at $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the sale, the chief executive officer now owns 506,974 shares of the company's stock, valued at approximately $96,664,732.58. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,537 shares of company stock worth $20,018,625. 9.70% of the stock is currently owned by company insiders.

Amazon.com Trading Up 2.5%

NASDAQ AMZN traded up $5.03 during trading on Tuesday, hitting $206.02. The stock had a trading volume of 34,776,251 shares, compared to its average volume of 41,992,291. The company has a market capitalization of $2.19 trillion, a PE ratio of 37.25, a PEG ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $190.16 and a 200 day moving average price of $208.75. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

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.